The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on May 14, 2026 for Deepak Kumar Singal
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Promoter Mr. Deepak Kumar Singal has created a pledge on 21,50,000 equity shares (4.62% of total share capital) in favor of Comfort Fincap Limited. The encumbrance was created on May 13, 2026 and reported on May 14, 2026. The pledged shares represent 7.15% of the promoter's total holding of 3,00,80,786 shares (64.58% of the company). The security value is Rs. 16.81 crore against a borrowed amount of Rs. 4 crore, providing an asset cover ratio of 4.20:1. The loan proceeds are for personal use by the promoter. The encumbrance is neither 50% or more of promoter holding nor 20% or more of total share capital.
The pledge is relatively small at under 5% of total shares with adequate asset cover, indicating manageable additional risk for minority shareholders. However, any future invocation of this pledge could lead to share sales in the open market.