Disclosure under SEBI Takeover Regulations

CIE Automotive India Limited announced a disclosure from its promoter, Participaciones Internacionales Autometal DOS, S.L. (PIA2), under Regulation 31(4) of the SEBI Takeover Regulations, 2011. This regulation requires promoters who acquired shares through an open offer to confirm their holding. PIA2, along with persons acting in concert, has confirmed their compliance, indicating they have not directly [presumably, sold or pledged] the shares acquired under the open offer. This disclosure ensures transparency regarding the promoter's stake. For investors, this signifies stability in the promoter's commitment to the company, suggesting no immediate plans for divestment or encumbrance of their previously acquired shares.