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 Confidence LPG Bottling Pvt Ltd
CONFIPET · price
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Awaiting price reaction for this filing.
Confidence Petroleum India Ltd informed the exchanges that Confidence LPG Bottling Pvt Ltd (a promoter group entity) released a pledge on 27,85,000 equity shares (0.84% of total share capital) on March 28, 2025. The pledged shares were held with Cholamandalam Securities Limited. After this release, the promoter group's remaining encumbered shares stand at 19,15,000 (0.58% of share capital), down from 47,00,000 (1.41%) earlier. The disclosure was filed under SEBI SAST Regulations 31(1) and 31(2) on April 1, 2025.
This is a positive signal for shareholders as a reduction in pledged promoter shares lowers the risk of forced selling and indicates improved financial flexibility for the promoter group. The released shares are now unencumbered, which is generally viewed favourably by the market.