The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on November 18, 2025 for Suresh Gaggar
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Promoter Suresh Gaggar has filed three separate disclosures under SEBI SAST Regulation 31(1)/31(2) reporting creation of fresh pledges on his equity shares in Garnet International Ltd, all in favour of Globe Capital Market Ltd as margin to the share broker. The pledges involve 2,00,000 shares on 14-Aug-2025, 10,00,000 shares on 21-Aug-2025, and 2,61,597 shares on 16-Sep-2025, totalling about 14.61 lakh shares encumbered. After these events, the promoter's total holding stands at 25,87,380 shares (13.18% of share capital), of which 25,60,579 shares (13.04%) are pledged — meaning nearly the entire promoter stake is now pledged with the broker.
For shareholders, this is a significant red flag — roughly 99% of the promoter's personal holding is now pledged as collateral to a single broker, which raises concentration risk. A sharp drop in share price or any margin shortfall could trigger invocation and forced selling, putting pressure on the stock price.