Description

BSE receives clarifications from Aadhar Housing Finance Limited and Sudarshan Chemical Industries Limited regarding significant increase in trading volumes.

Summary

BSE received clarifications from two companies regarding significant increases in their trading volumes. Aadhar Housing Finance Limited (scrip code: 544176) attributed the volume spike to an open offer by BCP Asia II Holdco VII Pte. Ltd. and associated Blackstone entities. Sudarshan Chemical Industries Limited also provided clarification for volume increase (document appears incomplete).

Key Points

  • Aadhar Housing Finance responded to BSE surveillance query dated July 29, 2025 (ref: L/SURV/ONL/PV/AA/2025-2026/316)
  • Open offer announced by JM Financial Limited on behalf of BCP Asia II Holdco VII Pte. Ltd. and Blackstone entities
  • Acquisition of up to 28,20,52,121 equity shares representing 64.14% of expanded voting share capital
  • Price not exceeding Rs. 425.00 per equity share
  • Share purchase agreement executed on July 25, 2025
  • Company confirmed compliance with Regulation 30 disclosure requirements
  • Sudarshan Chemical Industries also received similar surveillance query (ref: L/SURV/ONL/PV/AA/2025-2026/315)

Regulatory Changes

No new regulatory changes announced. Companies reaffirming compliance with existing SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Compliance Requirements

  • Companies must respond to BSE surveillance queries regarding volume spikes
  • Mandatory disclosure under Regulation 30 for price sensitive information
  • Compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • Timely disclosure of share purchase agreements and takeover activities

Important Dates

  • July 25, 2025: Share purchase agreement execution date
  • July 25, 2025: Initial disclosures made to stock exchanges
  • July 29, 2025: BSE surveillance queries issued
  • July 29, 2025: Company clarifications submitted

Impact Assessment

Medium impact as volume clarifications relate to significant corporate actions including potential change in control. The open offer for Aadhar Housing Finance involves acquisition of majority stake (64.14%) which could impact stock price and trading patterns. Proper disclosure ensures market transparency and investor protection.

Impact Justification

Companies providing mandatory clarifications on volume spikes due to corporate actions and takeover activities