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

Pledge Above 50pctOwnership Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.4%Reaction day

₹51.50

prior close

₹52.30

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%+2.2% vs market

Investment Company peers, median of 60sector+0.0%+2.4% vs sector

On the reaction day the stock moved 2.2 pts more than Nifty Microcap 250 and 2.4 pts more than its Investment Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

+2.4+0.2+2.2+0.0+2.4

Next day

+2.4+1.1+1.3+0.6+1.8

-4.0+1.4-5.4-0.3-3.7

-6.9+0.7-7.6-0.3-6.6

-6.8+0.7-7.6-0.6-6.2

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-10.7-3.7-7.0-4.9-5.8

15d

+12.6-9.0+21.6-10.1+22.8

+47.6-6.8+54.4-10.3+57.9

+23.7-7.6+31.3-12.6+36.3

-6.1-12.3+6.3-20.9+14.9

UpDownMarket · Nifty Microcap 250Sector · Investment Company peers, median of 60Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

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.

Likely market impact

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.