The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on May 06, 2025 for Rasesh Kanakia (as a ....
CINELINE · price
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Cineline India Ltd received a disclosure from Rasesh Kanakia, acting as trustee of Rupal Kanakia Trust, regarding a pledge creation of 13,64,500 equity shares (3.98% of total share capital) on May 5, 2025. The promoter group's total holding stands at 30,68,800 shares (8.96% of the company), and the pledged shares now represent about 44.45% of the promoter's own shareholding. The pledge is in favor of Sunil Bhagwatlal Dalal, an individual and not a bank, NBFC, or financial institution. The borrowed amount of ₹10 crore against shares valued at ₹12.71 crore (security cover of 1.271x) is being used for the promoter's personal needs, not for the benefit of the listed company.
Nearly half of the promoter's shareholding is now pledged for personal borrowings, which is a moderate concern for retail investors as it signals financial commitments outside the business. The pledge is with a non-institutional lender and is not connected to the company's operations, so shareholders should monitor for any further encumbrance or invocation risk.