The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 01, 2025 for Rasesh Kanakia (as ....
CINELINE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rasesh Kanakia, acting as trustee of the Ashish Benefit Trust (a promoter entity of Cineline India Ltd), has created a new pledge on 4,69,000 equity shares (1.37% of total share capital) of the company on March 27, 2025. The pledge has been taken in favor of Axis Trustee Service Limited. The reason stated for the pledge is personal use by the promoter. After this new pledge, the total promoter-encumbered shares stand at 29,56,500 (8.63% of total share capital) out of the total promoter holding of 30,68,800 shares (8.96%). The value of the pledged shares on the date of the event was ₹3.64 crore against an involved amount of ₹10 crore (ratio of 0.364). The disclosure confirms that the encumbrance is neither 50% or more of the promoter's shareholding nor 20% or more of the total share capital.
This is a fresh pledge creation by the promoter for personal borrowing rather than for the company, which is generally viewed as a mildly negative signal by the market since it increases the promoter's encumbered stake. However, since the total encumbered portion remains well below 50% of promoter holding, the immediate risk to shareholders is limited.