Andrew Yule & Co. Ltd. files SEBI Takeover Regulation disclosure for Veedol Corporation Limited

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

Andrew Yule & Co. Ltd. filed a Regulation 31(4) disclosure with NSE, indicating a substantial acquisition of shares in Veedol Corporation Limited. Under SEBI's Takeover Code (2011), an acquirer must disclose within 2 trading days of crossing 5% shareholding (or upon acquisition of 2% by a person already holding 5%+). This disclosure is the threshold notification-the acquirer is now obligated to issue an open offer if it has crossed or intends to cross 26% of voting capital, or if other trigger conditions are met. The specific shareholding position, offer price, and timeline for the open offer would be detailed in a separate open offer document subject to SEBI approval.

Why it mattersRegulation 31(4) disclosure is the first formal step in a takeover-it notifies the exchange and market of a substantial share acquisition and triggers mandatory open offer obligations if the acquirer crosses the 26% threshold or specified trigger thresholds; counsel must immediately map the acquirer's current shareholding, any concert party arrangements, and valuation methodology for the mandatory offer price.
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