Ravi Agarwal files SEBI Takeover Regulation Disclosure under Reg 31(4)

Regulatory 19 Jun 2026 · Filed / open· ✓ Verified

Ravi Agarwal has submitted to NSE a disclosure under Regulation 31(4) of the SEBI Takeover Regulations 2011, the mechanism through which substantial share acquisitions (typically crossing 5% of voting capital) or changes in control are reported to the stock exchange. The filing triggers public disclosure of the acquirer's identity, the number/percentage of shares acquired, the acquisition price/value, and any concert-party arrangements. Regulation 31(4) is a procedural gateway: if the acquisition crosses 25% of voting capital or control shifts, an open offer to public shareholders becomes mandatory under the code.

Why it mattersA Reg 31(4) disclosure signals either a concert-party arrangement formation or a material change in control/substantial shareholding structure; counsel must audit the precise acquisition threshold (5% for disclosure, 25% for open offer) and any exemptions claimed under the takeover code.
SectorFinancial Services
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