Waaree Renewable Technologies discloses substantial acquisition under SEBI takeover regulations
Waaree Renewable Technologies (formerly Waaree Energies), a renewable energy company listed on NSE, filed a mandatory disclosure of substantial acquisition under Regulation 31(4) of the SEBI (SAST) Regulations, 2011. This filing is triggered when an acquirer crosses 25% of voting capital or triggers other thresholds defined in the Code. The disclosure must be followed by either an open offer to public shareholders under Reg. 38 or a valid exemption claim within the prescribed timeline.
Why it mattersA Reg. 31(4) filing triggers the requirement that an acquirer disclosing a substantial holding must proceed to open offer (Reg. 38) within 4 weeks unless an exemption applies; partners must verify whether the acquirer is a promoter, white-knight or third party, and whether creeping exemption (5% per quarter) or other carve-outs have been invoked.
SectorEnergy & Renewables
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Sources
- NSE Archives – Corporate Governance · official
- SEBI Takeover Regulations 2011 (Official Text) · official
- BSE corporate announcements · official
- NSE corporate announcements · official
- CCI combination orders · official
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