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 Mrs. Hiral Kanakia
CINELINE · price
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Awaiting price reaction for this filing.
Mrs. Hiral Kanakia, a Director and member of the promoter group of Cineline India Ltd, has disclosed the creation of a pledge on 1,50,000 equity shares (about 0.44% of total share capital) on March 20, 2025. This takes her total encumbered shares to 20,25,000 (5.91% of share capital), against her total promoter holding of 24,28,844 shares (7.09% of share capital). The pledge has been created in favour of Sunil Bhagwatlal Dalal (an individual in the lending business, not a scheduled bank or NBFC) for personal use by the promoters, with an amount of Rs. 1.18 crore involved against shares valued at Rs. 25 crore (ratio 0.0472). No listed entity or group company is involved in this transaction. Worth noting: based purely on the share numbers in the disclosure, the post-event encumbered shares (20,25,000) work out to roughly 83% of her total promoter holding, although the form itself states the encumbrance is not 50% or more of promoter shareholding.
The pledge does not change the promoter's economic ownership of the shares, but it adds to existing encumbrance on promoter holdings, which is a mild negative signal — if share prices fall, the pledge could be invoked. Retail investors should watch for any further pledges, invocation, or release events involving the promoter group.