Description

BSE circular containing clarifications from two companies regarding inaccurate news reports about trading activity and acquisition rumors.

Summary

BSE circular containing clarifications from Clean Science and Technology Limited and Sula Vineyards Limited regarding inaccurate news articles. Clean Science clarified that a broker’s error led to excessive sell orders beyond the intended ~24% stake sale by promoters. Sula Vineyards categorically denied news reports about entering the premium spirits market via acquisition.

Key Points

  • Clean Science promoters intended to sell up to ~24% shareholding through brokers including Spark Institutional Equities Private Limited (SIEPL)
  • SIEPL made an error resulting in sell orders for significantly higher number of shares than authorized
  • Actual sale by Clean Science promoters was limited to up to ~24% as originally planned
  • SIEPL is taking remedial steps to address the situation
  • Sula Vineyards denied reports about acquisition or entry into premium spirits market
  • Sula stated no negotiations or discussions have taken place regarding such acquisition
  • Both companies confirmed commitment to proper disclosure under Regulation 30 of SEBI Listing Regulations

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

  • Companies must provide timely clarifications on news articles that may impact stock price/volume
  • Disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 must be maintained
  • Material information affecting company operations and performance must be disclosed in timely manner

Important Dates

  • August 21, 2025: Date of company clarifications
  • July 17, 2025: Date when Clean Science promoters initially intimated exchanges about intended stake sale
  • August 20, 2025: Date of Sula Vineyards news article on CNBC TV18

Impact Assessment

Market Impact: Medium - clarifications help resolve market confusion about significant trading activity in Clean Science and acquisition rumors for Sula Vineyards. Operational Impact: Low - routine disclosure compliance responses to media reports. Investor Impact: Medium - provides clarity on promoter selling activity and denies acquisition speculation that could affect investor decisions.

Impact Justification

Clarifications address market-moving news but involve specific company responses rather than broad regulatory changes