Promoter group creates pledge over 47.02 percent stake in Gujarat Themis Biosyn
GUJTHEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Pharmaceutical Business Group (India) Ltd (PBGIL), part of the promoter group holding 47.02 percent (5.12 crore shares) in Gujarat Themis Biosyn, faces indirect encumbrance after Vividhmargi Investments pledged PBGIL shares and gave a non-disposal undertaking to CTL Trusteeship as Debenture Trustee. Encumbered shares equal 66.36 percent of promoter holding, crossing the 50 percent mark. Amount raised is about Rs 135 crore for personal use by promoters, not for company benefit.
Large pledge of promoter stake raises risk concerns. Funds used for promoter personal use, not company benefit, which may worry shareholders about control stability.