The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 29, 2025 for Swaminathan Govindarajan
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Indrayani Biotech has reported a release of pledge on 22,89,609 equity shares (5.03% of total share capital) belonging to promoter Swaminathan Govindarajan. The shares were pledged with Samunnati Financial Intermediation and Services Private Limited as collateral for a bill discounting facility availed by the company for business purposes. The unpledge confirmation was received on March 27, 2025, with the original release dated March 19, 2025. Post-release, the promoter's encumbered shares have reduced from 27,39,451 (6.02%) to 4,49,842 (0.99%) of total share capital. The promoter's total holding remains 41,40,000 shares (9.09%) of the company.
This is a positive development for shareholders as it reduces the pledged portion of promoter holdings to less than 1%, easing concerns about potential forced selling. The release suggests the company's bill discounting obligation has been settled, which is a routine positive signal regarding the promoter's financial standing and the company's working capital position.