Prime Focus Limited: Naresh Malhotra Files Substantial Acquisition Disclosure
Naresh Malhotra has submitted to the NSE a disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires disclosure within four working days of acquisition of shares that result in the acquirer crossing 5%, 10%, 15%, 25%, 35% or higher thresholds of voting capital. The filing establishes the public record of the acquisition event and sets in motion potential open-offer or exemption mechanisms under the Takeover Code.
Why it mattersRegulation 31(4) disclosures mark the entry point for scrutiny of shareholding structure and trigger mandatory open-offer thresholds; this filing signals either a cross-threshold acquisition (25%, 35% etc.) or a strategic position disclosure required under the Takeover Code.
SectorTechnology
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Sources
- NSE Archives - Corporate Filings · official
- SEBI Official Website - Takeover Regulations, 2011 · official
- NSE Listing Centre - Announcements · official
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