The Exchange has received updates on Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on February 26, 2026 for Himanshu ....
CINELINE · price
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Awaiting price reaction for this filing.
Himanshu Kanakia, as trustee of Hiral Kanakia Trust (a promoter entity of Cineline India Ltd), has disclosed the creation of a pledge on 28,00,000 equity shares of the company on February 24, 2026. These pledged shares represent 8.17% of Cineline India's total share capital. The promoter's total holding in the company is 30,68,800 shares (8.96%), and with this new pledge, roughly 91% of the promoter's own shareholding is now encumbered. The pledge is in favor of Vistra ITC (India) Limited, and the stated purpose is personal use by the promoter, with a loan amount of ₹18 crore against shares valued at approximately ₹23.11 crore (security cover of 1.29x). Prior to this event, no shares held by the promoter were encumbered.
This is a negative signal for shareholders, as nearly all of the promoter's stake in Cineline India has been pledged to raise personal funds. A sharp drop in the share price could trigger a margin call, and any default could lead to the pledged shares being sold, putting further pressure on the stock.