Description
Clean Science and Technology Limited clarifies block trade error by broker, Sula Vineyards denies premium spirits acquisition reports
Summary
Two companies provided clarifications on news articles: Clean Science and Technology Limited explained a broker error during block trading that resulted in higher volumes than intended, while Sula Vineyards categorically denied reports about entering the premium spirits market via acquisition.
Key Points
- Clean Science promoters intended to sell ~24% shareholding but broker Spark Institutional Equities Private Limited made an error resulting in sell orders for significantly higher shares than authorized
- Actual sale by Clean Science promoters was limited to ~24% as originally planned
- SIEPL is taking remedial steps to address the trading error
- Sula Vineyards denied news reports about acquisition plans for premium spirits market entry
- Sula confirmed no negotiations or discussions have taken place regarding any acquisition
Regulatory Changes
No regulatory changes announced.
Compliance Requirements
- Companies responding to clarification requests under Regulation 30 of SEBI Listing Regulations
- Timely disclosure of material information and corrections of media reports
Important Dates
- August 21, 2025: Date of clarifications provided by both companies
- July 17, 2025: Previous intimation by Clean Science promoters about planned stake sale
- August 20, 2025: Date of Sula Vineyards news article being clarified
Impact Assessment
The clarifications help restore market confidence by explaining unusual trading volumes in Clean Science stock and correcting misinformation about Sula Vineyards’ business strategy. The broker error disclosure highlights operational risks in block trading execution.
Impact Justification
Clarifications address market rumors and trading irregularities that could impact stock prices