Mahesh Developers Ltd. submitted a formal response to The Bombay Stock Exchange Limited regarding significant movement in the price of the company's securities. The communication was addressed to BSE at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001.

The company acknowledged the exchange's communication about price movement and provided clarification that:

  • The company's securities had remained suspended from trading on BSE for approximately more than a year prior to the recent activity
  • The company undertook necessary steps for revocation of suspension, including clearing pending dues payable to the Exchange and completing/regularizing requisite pending statutory and regulatory compliances
  • The company submitted requisite application/documents to the Exchange for revocation of suspension
  • Following this submission, the suspension of trading in the company's securities was revoked and the securities became available for trading

The company expressed the view that resumption of trading after a prolonged period of suspension may have resulted in renewed market activity and trading interest in the securities, which could possibly be one of the factors contributing to the price movement.

The company explicitly confirmed that:

  • There is no material event, information, development, transaction or impending announcement concerning the company that has not already been disclosed to the Stock Exchange
  • No additional information warrants disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • All necessary disclosures have been made to the Stock Exchange in accordance with applicable provisions of SEBI (LODR) Regulations, 2015
  • The company will continue to comply with disclosure obligations as and when any material event or information arises

The company clarified that it has no role or involvement in determining, influencing or controlling the market price of its securities, and attributed the movement entirely to market forces, investor perception, demand and supply, and other factors operating in the securities market.

The response was signed by SHALIN SAPARIYA, Director (DIN: 00414104) on behalf of Mahesh Developers Ltd.

Financial Impact

No financial impact quantified in the disclosure. The document primarily addresses regulatory compliance and market price movement explanations.