Code of Fair Disclosure for Unpublished Price Sensitive Information shared with Exchanges
The company has shared its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information under SEBI insider trading rules.
- Effective Date
- 01st May, 2026
- Chief Investor Relations Officer
- CFO
- Regulatory Framework
- Regulation 8(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015
What was shared
The company has placed on record with BSE and NSE its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI), shared under Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The Code takes effect from 01st May, 2026 and is also available on the company's website.
Key principles in the Code
- Prompt disclosure of UPSI that could affect price discovery, once information is credible and concrete.
- Disclosure in a uniform and universal manner through widely circulated media and/or the stock exchanges; selective disclosure to be avoided.
- The Chief Financial Officer serves as the Chief Investor Relations Officer (CIRO) for dissemination of information.
- Designated Persons must promptly report any UPSI to the CIRO.
- If UPSI is disclosed selectively or inadvertently, it must be promptly made generally available.
- Fair response to queries on news reports and verification of market rumours by regulatory authorities.
- Information shared with analysts and research personnel must not be UPSI; proceedings of analyst and investor meetings to be published on the website.
- UPSI handled strictly on a need-to-know basis.
- Sharing with partners, lenders, customers, suppliers, bankers, advisors and auditors is treated as a "Legitimate Purpose", provided it is not to circumvent the regulations.
- A Structured Digital Database with names and PAN of recipients, plus time stamping and audit trails, will be maintained.
- Any recipient of UPSI for a Legitimate Purpose is treated as an "Insider" and must maintain confidentiality.
What it means for investors
This is a governance and compliance document rather than a business development. It formalises how and when the company will share price sensitive information with the market. The Board may add further guidelines from time to time. There are no financial or operational figures involved.
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