Rajesh Gupta files substantial acquisition disclosure under SEBI Takeover Regulations for Share India Securities

Regulatory 22 Jun 2026 · Filed / open· ✓ Verified

Rajesh Gupta submitted a copy of the Regulation 31(4) disclosure to NSE, triggering mandatory public filing under the SEBI Takeover Code. Regulation 31(4) requires disclosure within 4 working days of crossing the 5% threshold or announcing intention to acquire 5%+. The filing does not yet disclose the quantum of shares acquired, the acquisition price, or the full terms-those details typically appear in the disclosure document itself. This is a critical procedural gateway: failure to file or delay can invite regulatory action and suspension of voting rights.

Why it mattersA Reg 31(4) disclosure signals crossing of the 5% threshold (or announcement of intention to acquire 5%+); counsel should immediately model open-offer triggers (25% threshold), creeping acquisition limits, and compliance deadlines-this is a key gating event for any hostile/contested takeover.
SectorFinancial Services
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