KETAN BHAWARLAL KOTHARI has submitted to the Exchange a copy of Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
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Promoter Ketan Bhawarlal Kothari has disclosed the release of pledge on 90,75,000 equity shares (6.48% of total share capital) held in favor of Muthoot Exim Private Limited. The shares were released on April 8, 2026, and the disclosure is filed pursuant to Regulation 31(2) of SEBI SAST Regulations, 2011. After the release, these 90,75,000 shares are no longer encumbered. Ketan B Kothari's total holding stands at 25,531,337 shares (18.23%). The pledge release indicates improved financial flexibility for the promoter group.
The release of pledged shares removes a potential overhang on the stock and may indicate improved liquidity or debt repayment by the promoter. This is generally viewed positively as it reduces risk of forced selling by lenders.