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 Rasesh B Kanakia
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Awaiting price reaction for this filing.
Promoter Rasesh B. Kanakia has released 3,50,000 equity shares (about 1.02% of share capital) from an existing pledge on June 13, 2025. The shares were pledged with Axis Trustee Service Limited (acting as Debenture Trustee) as collateral security. After this release, his encumbered (pledged) holdings stand at 2,56,000 shares (0.75%), down from 6,06,000 shares (1.77%) earlier. His total promoter holding in the company remains at 12,73,924 shares (3.72%).
Pledge release is generally a positive signal as it reduces the risk of forced sale and reflects improved financial flexibility for the promoter. The small size of the transaction (1.02%) and low overall promoter holding (3.72%) mean limited impact on the stock price.