Sumitomo Chemical India Limited meets minimum public shareholding requirement

Sumitomo Chemical Company Limited, promoter of Sumitomo Chemical India Limited vide notice for offer of sale dated 29 September, 2020 has sold 1,64,83,654 equity shares of the company constituting approximately 3.30% of the paid-up equity share capital of the Company.

Consequent to the offer for sale under stock exchange mechanism, the present public shareholding of the Company is twenty five percent (25%) which is compliant with the minimum public shareholding requirement as mandated by SEBI.

The following is the breakup of shareholding pattern of the company post sale:

Promoter and promoter group - 37,43,59,302 shares (75.00%)
Public - 12,47,86,434 shares (25.00%)

Source : Equity Bulls

Keywords