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
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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 Dax Francis Theknath filed a disclosure explaining two fresh pledges of company shares. On 19 Nov 2025, 32.80 lakh shares (7.07% of capital) were pledged with Bandhan Bank for Rs. 8 crore. On 24 Nov 2025, another 22.30 lakh shares (4.81% of capital) were pledged with SBI for Rs. 9.25 crore. A prior pledge of 6.70 lakh shares (1.44%) with SBI from March 2021 also exists. Promoters collectively hold 50.92% of the company, of which 26.16% is now pledged. The stated reason is working capital needs of Jet Freight Logistics, with the note that the share price was 'moving down.' Security cover ratios on the new pledges are weak at 0.59x and 0.42x, meaning the pledged shares are worth less than the loan amounts.
Rising promoter pledging combined with weak security cover (shares worth less than the borrowings) is a red flag for retail investors. Any further drop in share price could trigger margin calls or pledge invocation, potentially flooding the market with promoter shares and pressuring the stock.