The Exchange has received re-revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 09, 2025 for Kailash Prasad Purohit
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Awaiting price reaction for this filing.
JMD Ventures has submitted a re-revised SAST disclosure under Reg 31(1) and 31(2) for promoter and Managing Director Kailash Prasad Purohit. The filing reports the release of a pledge on 34,50,000 shares (about 11.95% of total share capital) on December 12, 2024, in favour of Nouveau Global Ventures Ltd. The original pledge (dated April 25, 2014) was on 12.5 lakh shares taken for a personal loan of ₹50 lakh; the pledged quantity rose to 50 lakh shares due to a bonus issue. After this release, the promoter's total holding remains 50 lakh shares (17.33%), of which only around 15.5 lakh shares (~5.38%) stay pledged. The revision was filed in response to a BSE query dated March 27, 2025.
Reduction in pledged shares is mildly positive for shareholders as it lowers the risk of forced sale of promoter holdings. However, the remaining pledged portion (~5.38%) still represents some encumbrance risk, and the promoter group's overall stake is well below 50%.