Magellanic Cloud Limited has announced that it does not fall under the criteria for being classified as a Large Corporate (LC) as per the guidelines outlined in the SEBI Circular dated 26 November 2018. This confirmation was made in a recent filing with the National Stock Exchange of India (NSE).
The SEBI Circular (SEBI/HO/DDHS/CIR/P/2018/144) sets forth specific criteria that determine whether a company qualifies as a Large Corporate. Magellanic Cloud has reviewed these criteria and confirmed that it does not meet the requirements to be classified as such.
The company has requested stakeholders to take note of this confirmation, ensuring clarity regarding its status in relation to the SEBI guidelines.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).