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 Ltd has informed the stock exchange about the release of a pledge on 4,49,842 equity shares held by promoter Swaminathan Govindarajan, who holds 41,40,000 shares (9.09% of total share capital) in the company. The pledge was held by Samunnati Financial Intermediation and Services Private Limited as collateral for a bill discounting facility availed by the company for business purposes. The unpledge was effected on 19 March 2025, with the confirmation report received on 27 March 2025, and the disclosure was filed on 29 March 2025. Post-release, the promoter's encumbered shares have come down to zero, meaning the promoter no longer has any pledged shares with this lender.
This is a positive development for shareholders as the entire pledged portion (0.99% of share capital) of the promoter's holding has been released, reducing encumbrance risk on promoter shares. It also suggests that the underlying loan or bill discounting facility has been settled, which may indicate improved financial flexibility for the company.