The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 10, 2025 for Ravi B Goyal
AGSTRA · price
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On the reaction day the stock moved 2.3 pts less than Nifty Microcap 250 and 1.8 pts less than its Financial Technology (Fintech) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter and Chairman & MD Ravi B. Goyal has disclosed the invocation of pledge on 16,58,501 equity shares of AGS Transact Technologies by Bajaj Finance Limited across two events: 2,82,489 shares (0.22%) on April 3, 2025 and 13,76,012 shares (1.07%) on April 4, 2025. Additionally, Vineha Enterprises Pvt Ltd had 55,00,000 shares (4.28%) invoked by New Berry Advisors Ltd on April 4, 2025. After these events, Mr. Goyal holds 1,83,15,526 shares (14.26% of share capital), of which 90.77% remain encumbered with Bajaj Finance. The value of encumbered shares stands at approximately ₹11.22 crore against a borrowed amount of ₹19.52 crore (ratio 0.54), with the original borrowing used for personal purposes by the promoter.
This is a negative signal for shareholders — the promoter has lost control of pledged shares due to loan defaults, with encumbered shares now at 90.77% of his holding. The high pledge ratio and invocation events raise concerns about financial stress at the promoter level and could weigh on the stock price.