The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on July 25, 2025 for Ganapa Narsi Reddy
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On the reaction day the stock moved 6.2 pts more than Nifty Microcap 250 and 6.0 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Ganapa Narsi Reddy has pledged his entire holding of 3,00,000 equity shares (92.76% of total share capital) in Covidh Technologies Ltd in favour of Ascentedge Advisors LLP on July 25, 2025. This means 100% of the promoter's stake is now encumbered. The value of shares pledged is approximately ₹30 lakh, against a loan amount of about ₹1 crore, giving a coverage ratio of 0.33:1. The funds are stated to be raised for the benefit of the listed company. Ascentedge Advisors LLP is not a scheduled bank, public financial institution, NBFC, or housing finance company.
This is a significant red flag for retail investors — the promoter has pledged his entire 92.76% stake, leaving virtually no unencumbered promoter holding. If the loan defaults, the lender could sell these shares, potentially crashing the stock price or changing control of the company.