The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on November ....
JETFREIGHT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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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Mr. Dax Francis Theknath, part 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 pledge is for a working capital facility of Rs. 8 crore taken by the listed company, with the shares being encumbered as the share price had been moving down. Post this event, Mr. Theknath has 39,50,000 shares (8.51% of total share capital) encumbered. Total promoter group shareholding stands at 2,36,26,488 shares (50.92% of total share capital), of which 16.72% is currently encumbered across multiple lenders including Kotak Mahindra Bank, State Bank of India, and now Bandhan Bank. The filing also includes a note from the promoter that the disclosure was made beyond the stipulated period due to his unavailability.
This is a new pledge creation, not an invocation or release, so the promoter's economic ownership remains unchanged. However, it does add to the overall encumbrance on promoter shares. The security cover on this specific pledge is only 0.59 times the loan amount (less than 1x), which means the encumbered shares are worth less than the loan — a point investors should note as it reflects ongoing working capital pressures and a declining share price.