Asian Paints Limited announced that its Audit Committee has determined the bona fide reason for the non-implementation of the first tranche of a trading plan by Geetanjali Trading and Investments Private Limited (GTIPL). GTIPL, a designated person, could not execute the purchase of 2,00,000 equity shares as the market price exceeded the upper limit of Rs. 2,650.
Audit Committee Upholds Bona Fide Non-Implementation of Trading Plan
Asian Paints Limited has officially communicated that its Audit Committee has reviewed and accepted the bona fide reason provided by Geetanjali Trading and Investments Private Limited (GTIPL) for the partial non-implementation of its approved Trading Plan. GTIPL, an entity associated with the Promoter(s)/Promoter Group and designated as a Designated Person of the Company, had submitted this plan for approval.
Trading Plan Details and Non-Implementation
The Trading Plan, initially approved, had proposed GTIPL to purchase an aggregate of 4,00,000 equity shares of Asian Paints in two tranches. The first tranche involved the purchase of 2,00,000 equity shares during the period from 27th July 2026 to 31st July 2026. However, this transaction could not be executed as the market price of the company’s shares remained consistently above the stipulated upper price limit of Rs. 2,650 per share throughout the designated trading period. The Trading Plan was, however, implemented with respect to a pledge transaction and the purchase transaction under the second tranche.
Formal Intimation and Committee Review
GTIPL formally intimated the Compliance Officer regarding the partial non-implementation of the Trading Plan on 20th August 2026, providing the reasons and supporting documents. In accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company’s Code of Conduct, this matter, along with GTIPL’s submissions and the Compliance Officer’s recommendation, was presented to the Audit Committee at its meeting held on 21st August 2026.
Audit Committee’s Determination
Following a thorough consideration of the submitted documents and recommendations, the Audit Committee concluded that the non-implementation of the purchase transaction for the first tranche of the Trading Plan was indeed bona fide. This determination allows for the proper closure of this specific part of the trading plan under the relevant regulations.
Source: BSE
