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 Himanshu Kanakia (as ....
CINELINE · price
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Himanshu Kanakia, as trustee of Vrutant Benefit Trust (a promoter entity), has created a fresh pledge of 4,69,000 equity shares (1.37% of total share capital) of Cineline India Ltd on March 27, 2025. The shares have been pledged in favour of Axis Trustee Service Limited for the promoter's personal use, with an amount of Rs. 10 Crores involved against a value of Rs. 3.64 Crores of the pledged shares. After this new pledge, the promoter's total encumbered holding rises to 29,56,500 shares (8.63% of total share capital), which represents about 96% of the promoter's own shareholding of 30,68,800 shares (8.96%). The filing clarifies that neither the listed company nor any of its group companies are involved in the transaction.
Shareholders should note that nearly all of the promoter's stake in Cineline India is now pledged, signalling increased personal financial leverage at the promoter level. A high pledge ratio raises risk concerns – any adverse event (margin call or invocation) could lead to forced selling and pressure on the stock price. The funds are for personal promoter use, not the company, so there is no direct operational benefit to Cineline India.