Shishir Jaipuria has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Awaiting price reaction for this filing.
Promoter Shishir Jaipuria has filed a declaration under SEBI's Takeover Regulations confirming that no new encumbrance (pledge/lien) has been created on shares held by the promoter and promoter group, other than what was already disclosed in July 2023. As per the annexure, the promoter group holds 1,61,46,779 shares (47.59% of total shares), of which 15,05,500 shares (about 9.3% of promoter holding) remain encumbered. Shishir Jaipuria individually holds 20,68,590 shares (6.09%), with 5,00,000 shares pledged. This is a routine compliance filing, not a new pledge event.
No new action by promoters – the filing is purely a compliance declaration that existing pledge levels remain unchanged. Shareholders should note that the promoter group's overall holding is below 50% (at 47.59%), which means the company effectively has no single controlling shareholder group above the majority threshold, slightly increasing vulnerability to creeping acquisition attempts.