The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 10, 2025 for Rameshchandra Mansukhani
MANINDS · price
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Awaiting price reaction for this filing.
Promoter Rameshchandra Mansukhani disclosed the release of 16,30,000 equity shares (about 2.52% of total share capital) of Man Industries (India) Ltd from pledge. The shares were earlier pledged in favour of IDBI Trusteeship Services Limited (acting as Share Pledge Trustee) and were released on January 9, 2025, following instructions from HDFC Bank, the lender. Post-release, the promoter's pledged holdings stand at 65,00,000 shares (~10.04% of capital), down from 81,30,000 shares (~12.56%). The promoter continues to hold 1,12,54,992 shares (~17.39% of the company).
Pledge release is generally viewed positively by investors as it reduces the risk of forced selling and signals easing of the promoter's debt obligations. The promoter's overall stake and control remain intact, so the move is unlikely to materially affect the stock price.