The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on December 31, 2025 for Ramakant Gaggar
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Awaiting price reaction for this filing.
Mr. Ramakant Gaggar, part of the promoter group of Garnet International Ltd, has created a fresh pledge of 20,00,000 equity shares (about 10.18% of total share capital) in favour of Globe Fincap Ltd on December 23, 2025. The stated reason is 'Loan against Shares,' meaning the promoter has used company shares as collateral for a personal loan. With this addition, the promoter's total pledged shares have risen from around 22,70,000 (11.56%) to roughly 42,70,000 shares (21.74% of total share capital), which is more than the promoter's entire holding of 41,46,972 shares (21.12%). The disclosure was filed with BSE on December 31, 2025, under SEBI SAST Regulations.
Negative signal for retail investors — the promoter has now pledged shares exceeding 100% of his own holding, indicating rising personal leverage. Any default on the loan could trigger invocation and forced sale of pledged shares, putting pressure on the stock price.