Disclosure Received from Mr. Prakash Chand Jalan (Karta of HUF), Promoter of the company dates 29.12.2025, w.r.t release of pledge on 60000 equity shares held by P.C. Jalan HUF.
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Grovy India Ltd informed the BSE that promoter P.C. Jalan HUF, through its Karta Mr. Prakash Chand Jalan, has released a pledge on 60,000 equity shares of the company. The pledge had originally been created on October 9, 2023 in favour of Ganesh Stockinvest Private Limited. The company clarified that an earlier disclosure in 2023 had reported only 15,000 shares, and the higher current figure is due to a bonus issue carried out in November 2024, which increased the pledged shares proportionately. The release is being made upon satisfaction of the underlying obligation for which the pledge was created. P.C. Jalan HUF holds 12,10,070 shares (9.07%) of the company.
A pledge release is generally viewed as a mildly positive signal, indicating reduced encumbrance on promoter holdings and lower financial risk for shareholders. However, the size is small (0.45% of total share capital), so direct impact on share price is likely limited.