The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on June 16, 2025 for Himanshu Kanakia (as ....
CINELINE · price
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Promoter Himanshu Kanakia, acting as trustee of Vrutant Benefit Trust, has released 23,00,000 equity shares (6.71% of total share capital) that were previously pledged with Axis Trustee Service Limited. The release happened on 13th June 2025 and was disclosed to the exchanges on 16th June 2025. Post-release, the promoter holds 30,68,800 shares (8.96%) in Cineline India with zero encumbered shares. The reason stated for the original encumbrance was personal use by the promoter.
This is a positive development for shareholders — the promoter's entire pledged stake has been freed, eliminating any near-term risk of forced sale of shares. It signals improved financial flexibility for the promoter and removes a potential overhang on the stock.