Substantial acquisition in United Drilling Tools Limited by Pramod Kumar Gupta
Pramod Kumar Gupta submitted formal disclosure to NSE under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, indicating acquisition of a substantial stake in United Drilling Tools Limited. The filing does not disclose the exact percentage or value of shares acquired, but the Regulation 31(4) trigger typically implies crossing or approaching the 25% threshold. The acquirer is now obligated to make a public announcement and launch a mandatory open offer as per SEBI requirements.
Why it mattersA Regulation 31(4) disclosure marks the crossing of 25% shareholding threshold; the acquirer must now launch an open offer within 60 days under SEBI Takeover Code, requiring careful valuation and timing of the formal notice.
SectorIndustrials
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Sources
- NSE Archives / Corporate Actions · official
- SEBI Official Website - Takeover Code · official
- NSE Listing Rules - Continuous Disclosure · official
- BSE corporate announcements · official
- NSE corporate announcements · official
- CCI combination orders · official
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