The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 17, 2025 for Late Mrs. Shahida Mewawala ....
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On the reaction day the stock moved 1.0 pts less than Nifty Microcap 250 and 0.8 pts less than its Other Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Late Mrs. Shahida Mewawala (promoter, with Mr. Hasanain Shaukatali Mewawala as nominee) has released 281,970 pledged shares from Saraswat Co-operative Bank Ltd on 11-04-2025. These shares represented 12.22% of the company's total share capital. The release was disclosed under Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011, and reported to BSE on 17-04-2025. The promoter's overall holding stood at 23,06,970 shares (10.12% of share capital) prior to the release, with the pledged portion now fully released from encumbrance.
This is a positive signal for shareholders as it reduces the promoter's encumbrance, freeing up shares from the bank pledge and indicating improved financial flexibility or repayment of the underlying loan.