The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Veqarul Amin & Rumana Amin
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Veqarul Amin, promoter of Amin Tannery Ltd, has pledged 3,22,62,439 equity shares (about 29.88% of the company's total share capital) with SBICAP Trustee Company Limited on 06-02-2026. After this pledge, Veqarul Amin personally holds 5,17,38,034 shares (47.92% of the company), of which 3.22 crore shares are pledged and 1.94 crore shares remain unpledged. Fellow promoter Rumana Amin holds 1,17,23,400 shares (10.86%) with no pledge. Combined promoter group holding stands at 6,34,61,434 shares (58.78% of total capital). The company's total equity share capital is Rs. 10.79 crore consisting of 10.79 crore equity shares of Re. 1 each. This is a fresh pledge creation, not an invocation or release.
This is a significant pledge creation by the promoter covering nearly 30% of the company's shares, which raises concerns about financial leverage at the promoter level. Shareholders should monitor for any pledge invocation risk, as any default could lead to a large block of shares hitting the market.