Nettle Constructions files SEBI Reg. 31(4) disclosure for substantial acquisition in RattanIndia Enterprises
Regulation 31(4) requires disclosure within 4 working days of crossing critical thresholds (5%, 10%, 15%, 20%, 25%, etc.) in a listed company. The filing by Nettle Constructions indicates it has crossed at least one such threshold in RattanIndia Enterprises. Depending on the % disclosed, this may mandate an open offer to other shareholders under SEBI Takeover Regulations. The form captures the acquirer's intent, financing source, and board composition post-acquisition, creating a public record binding the acquirer.
Why it mattersThis filing triggers mandatory open-offer requirements under SEBI Takeover Code if Nettle Constructions has crossed the 25% threshold; the disclosure form contains specific shareholding, acquisition history, and intended acquisition details binding the acquirer to a public offer if required.
SectorIndustrials
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Sources
- NSE Corporate Archives · official
- SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 · official
- BSE corporate announcements · official
- NSE corporate announcements · official
- CCI combination orders · official
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