The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on June 04, 2025 for Rasesh Kanakia (as a ....
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Awaiting price reaction for this filing.
Rasesh Kanakia, acting as trustee of Ashish Benefit Trust (a promoter entity), has released 4,69,000 equity shares (1.37% of total share capital) from encumbrance on June 2, 2025. The shares were earlier pledged in favor of Sunil Dalal. The reason cited for the release is 'personal use by promoter'. Post-release, the encumbered shares held by the trust stand reduced from 27,69,000 (8.08%) to 23,00,000 (6.71%) of total share capital. The promoter's overall holding remains unchanged at 30,68,800 shares (8.96%).
This is a pledge release, not a stake sale, so there is no change in promoter ownership or voting power. It is mildly positive as it reduces the promoter's pledged exposure, lowering forced-sale risk on the stock.