The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on November 26, 2025 for Dax F Theknath
JETFREIGHT · price
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On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 0.1 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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Promoter and Executive Director Dax Francis Theknath has disclosed the creation of two new share pledges totalling 55,10,000 shares (about 11.88% of total share capital) on November 19 and 24, 2025. The shares were pledged with State Bank of India and Bandhan Bank Limited to support working capital facilities for Jet Freight Logistics. Total promoter shareholding stands at 2,36,26,488 shares (50.92%), with encumbered shares at 26.16% of promoter holding. The promoter group stated the pledges were made because the share price was moving down. One prior pledge of 6,70,000 shares with SBI from March 2021 also continues.
The creation of new pledges increases the promoter's encumbered holding, which is a negative signal as it raises concerns about financial leverage and potential margin call risk if share prices fall further. However, the purpose stated is working capital for the company itself rather than personal use, and total encumbrance remains below the 50% promoter holding threshold.