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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Swaminathan Govindarajan, Whole-time Director and promoter of Indrayani Biotech Limited, has created a pledge on 37,30,000 equity shares (8.19% of total share capital) in favour of Samunnati Finance Private Limited. The pledge was created on 27 March 2025 and disclosed to the exchange on 29 March 2025, as collateral security for a term loan facility availed by the company for business purposes. Before this event, the promoter held 41,40,000 shares (9.09% of share capital) with no existing encumbrance, meaning the entire 8.19% encumbered stake now leaves only 0.90% of his holding unpledged.
The company has raised debt against the promoter's shares, which is a moderate concern given the promoter already holds a small stake of just 9.09%. If the company defaults on the loan, a significant chunk of promoter holdings could be sold, adding supply pressure on this low-float stock.