The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 21, 2025 for Himanshu Kanakia (as ....
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Himanshu Kanakia, acting as trustee of Vrutant Benefit Trust (a promoter entity), has disclosed the release of 1,87,500 equity shares (0.55% of total share capital) from an existing encumbrance on 16 April 2025. The shares were previously pledged with Axis Trustee Service Limited. Before the release, the trust held 30,68,800 shares (8.96% of capital) of which 24,87,500 shares (7.26%) were encumbered. After the release, encumbered shares stand reduced to 23,00,000 (6.71% of capital). The disclosure was filed with BSE and NSE on 21 April 2025 under SEBI SAST Regulation 31.
This is a positive signal for shareholders as it reduces the pledge burden on promoter-held shares, lowering the risk of forced selling. The encumbered portion of the trust's holdings has dropped from 7.26% to 6.71% of the company, indicating improving financial flexibility for the promoter group.