The Exchange has received a clarification letter from Dax Francis Theknath about non completion of pledge transaction in connection with its earlier disclosure dated 11th March, 2025 under ....
JETFREIGHT · price
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On the reaction day the stock moved 4.9 pts less than Nifty Microcap 250 and 5.3 pts less than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Dax Francis Theknath, Executive Director and member of the promoter group, had earlier disclosed on 11th March 2025 the creation of a pledge on 22,30,000 (22.30 lakh) equity shares of Jet Freight Logistics in favour of State Bank of India. In a clarification dated 7th May 2025, he has informed the exchange that the pledge could not actually be executed due to a technical issue in the depository system. Additionally, the depository informed him that the pledge creation request cannot now be processed because the company's trading window is closed pending the publication of March quarter and full-year financial results. He has requested the exchange to treat the earlier 11th March 2025 disclosure as cancelled and remove it from records.
For shareholders, this means no encumbrance was actually created on the 22.30 lakh shares with SBI, so the promoter's holdings remain fully unencumbered. The earlier disclosure is effectively withdrawn, removing any negative overhang related to a potential pledge invocation. The stock price impact is likely neutral to mildly positive since the pledged shares are no longer at risk of being invoked.