Quest Capital Markets files substantial acquisition disclosure in Spencer's Retail under SEBI Takeover Code

M&A / JV 23 Jun 2026 · Announced· ✓ Verified

Quest Capital Markets Limited, via its disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, has notified the NSE of a significant share acquisition event in Spencer's Retail Limited. The Regulation 31(4) framework mandates disclosure within 4 working days of acquisition of 2% or more in any financial year, or upon any acquisition that results in holding of 5% or higher. Spencer's Retail is a listed retail enterprise with multi-format store presence across India. The disclosure submission to the exchange indicates formal entry into the takeover disclosure regime and initiates the 60-day mandatory open offer window if applicable.

Why it mattersThe filing of a Reg 31(4) disclosure indicates a trigger event (likely crossing 5% threshold or material move toward control); this requires immediate scrutiny of the bidder's track record, funding sources, and earnout/escrow conditions under the Takeover Code, and signals imminent open offer or other SEBI-gated transaction mechanics.
CounselQuest Capital Markets Limited
SectorConsumer & Retail
[object Object][object Object][object Object][object Object][object Object][object Object][object Object][object Object]

Sources

Open in the live tracker →

Related deals