The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on November 21, 2025 for Dax F Theknath
JETFREIGHT · price
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On the reaction day the stock moved 2.1 pts more than Nifty Microcap 250 and 1.6 pts more 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, a member of the Promoter Group and Executive Director of Jet Freight Logistics Ltd, has disclosed the creation of a new pledge on 32,80,000 equity shares (7.07% of total share capital) in favour of Bandhan Bank Limited on November 19, 2025. The purpose of the pledge is to secure a working capital facility for the company itself, not for personal use. After this new pledge, his total encumbered shares stand at 39,50,000 (8.51% of share capital), which represents about 16.72% of his promoter shareholding. Total promoter group holding in the company remains at 50.92% of share capital (2,36,26,488 shares). The filing was made under Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011, and the disclosure note also mentions it is being filed late due to the signatory's unavailability.
This is a routine pledge creation by a promoter to support the company's own working capital needs, not a personal borrowing. Since the encumbered shares (16.72% of promoter holding) remain well below the 50% threshold, there is no immediate governance or ownership concern. Short-term stock reaction is likely muted, but investors should monitor the level of pledged shares going forward as rising pledging levels can be a risk signal.