Fair disclosure code for unpublished price sensitive information intimated under SEBI PIT Regulations
The company has intimated the stock exchanges about its 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' (UPSI).
- Regulatory Reference
- Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015
- Document Intimated
- Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information
The company has informed BSE and NSE that it has put in place a 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information'. The intimation was shared under Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the Code is also available on the company's website.
What the Code is meant to do
- It sets out how the company will release unpublished price sensitive information (UPSI) - information that is not public and could affect price discovery - to the market.
- The stated aim is to disclose such information promptly, once it becomes credible and concrete, so that it becomes generally available to the public.
- Information is to be disseminated in a uniform and universal manner to prevent selective disclosure and give all stakeholders equal access.
- If UPSI is disclosed selectively or inadvertently, the company will strive to make prompt public dissemination of it.
Who handles investor and media communication
- The role of Chief Investor Relations Officer is to be handled by the Chief Executive Officer - Business, the Chief Financial Officer and the Head - Investor Relations, working in coordination with the Managing Director(s).
- Authorised representatives of the company are to be present at meetings with analysts, media persons and institutional investors. Unanticipated questions may be noted and a considered response given later.
- The company will give appropriate and fair responses to queries on news reports and to requests from regulatory authorities to verify market rumours.
Safeguards described in the Code
- UPSI is to be handled on a need-to-know basis.
- Sharing with third parties such as lenders, customers, suppliers, merchant bankers, legal advisors, auditors or other counterparties is to be done only for 'legitimate purposes' and in discharge of legitimate duties.
- Parties receiving UPSI are to sign agreements covering confidentiality and non-disclosure obligations, and are not to trade in the company's securities while in possession of UPSI.
- Details of the person or entity with whom UPSI is shared are to be entered in a structured digital database maintained by the company.
- Best practices are to be developed to maintain transcripts or records of meetings with analysts and other investor relations conferences on the official website.
- No UPSI is to be shared with analysts and research personnel.
How to read this
- This is a governance and process intimation. It describes the framework the company will follow while sharing price-sensitive information, rather than any business, order or financial development.
- For a retail investor, it is a reference point on how and where the company is expected to make disclosures, and who to look to for investor communication.
The Board of Directors may lay down further principles, rules and procedures from time to time. The Code, including any amendment, is to be published on the company's website and promptly intimated to the stock exchanges where the securities are listed.
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.