The move follows Sebi's decision to initiate a system involving the stock exchanges, depositories as well as registrars and share transfer agents (RTAs) for generating system-based disclosures required under takeover regulations and insider trading norms.

The disclosures are related to acquisition/disposal of shares by promoters/promoter group and pledge of equity shares by them.

RTAs would be able to upload files through the portal. In the initial phase, disclosures for promoter shareholders would be generated by the RTAs, based on the change in holdings of these shareholders, and the same would be submitted to the exchanges for dissemination on their website.

These disclosures would be disseminated on its website separately under the section 'Corporates à Disclosures' for easy viewing by the investors.

"The portal is user friendly while being equipped with appropriate security features," the statement said.

Latest News  from Business News Desk