The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on June 09, 2026 for Parv Jain
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Magnum Ventures Limited promoter Parv Jain has filed a disclosure under SEBI SAST Regulations regarding an extension of an existing pledge on his shares. The pledge covers 83,24,255 shares (12.17% of total share capital) held in favor of Catalyst Trusteeship Limited, acting as Debenture Trustee for Neo Special Equity Credit Opportunities Fund. The encumbrance serves as security for additional 18% Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) worth Rs 50 Crores being issued by the company itself. The end use of the funds raised is for the benefit of the listed company, specifically for working capital and transaction expenses. Total promoter group shareholding stands at 55.21% of the company, with encumbered shares at 22% of promoter holding and 12.17% of total share capital.
This is a routine disclosure showing the promoter extending an existing pledge to back the company's own NCD issuance, not new pledging or any invocation. Since the encumbered shares are only 12.17% of total capital (well below the 20% threshold) and the borrowing is for the company's benefit, the direct impact on shareholders is limited. However, investors should note the growing reliance on promoter share pledges to secure company borrowings.