Sebi’s observation relates to delayed disclosures with regard to changes in the shareholders of more than 2% in the company. The delays took place during four acquisitions made on 9 February 2017; March 20, 2019; 28 February 2020; and March 27, 2020, with delays ranging from 11 days to 2,725 days.
The statutory expired were identified by the market giver during the processing of the compulsory open offer in accordance with SAST regulations after the indirect acquisition of Godrej Agrovet of the voting rights of majority and control over Astec Lifesciences.
Sebi advised Godrej Agrovet to be careful in the future and warned that any repetition of such violations would attract stricter enforcement actions under the SEBI ACT, 1992 and related regulations.
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Godrej Agrovet today informed about the development after market hours, while claiming that there is no material impact on the financial activities or other activities of the company due to administrative warning. Differences from Godrej Agrovet ended today at RS 713.50 on the NSE, decrease of RS 2.30 or 0.32% on the closing of Friday. The share is currently being traded among the 50-day and 200 days of simple advancing averages (SMAS) of RS 768 and RS 755 respectively, according to the Trendlyne data.
The company likes agri-businesses such as animal feed, edible oil, crop protection, dairy products and poultry.
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