Manish Sharma Disclosure under SEBI Takeover Regulations (Regulation 31(4))

M&A / JV 19 Jun 2026 · Filed / open· ✓ Verified

Manish Sharma submitted a formal disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, to the National Stock Exchange. Regulation 31(4) requires disclosure when a person acquires shares that take their holding to or past prescribed thresholds (25%, 50%, or 75%), or when a concert party entity reaches such thresholds. The filing does not specify the exact stake or quantum of shares acquired, or the acquirer's identity beyond the named filer. The disclosure is procedural and triggers the regulator's monitoring of subsequent open offer obligations, if the threshold warrants it.

Why it mattersRegulation 31(4) disclosures signal a trigger of acquisition thresholds (typically 25%+ or creeping acquisition); transactional counsel must immediately review the acquirer's intention letter and timeline to open offer obligations.
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