The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on June 11, 2025 for Penmetsa Narasimha Raju
NCLIND · price
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NCL Industries filed a revised disclosure under SEBI SAST Regulation 31(1) and 31(2) reporting the invocation of pledged shares belonging to promoter group members Penmetsa Narasimha Raju and Penmetsa Vara Lakshmi. For Narasimha Raju, 5,14,535 shares (1.14% of total share capital) were invoked on June 2, 2025. For Vara Lakshmi, 3,50,355 shares (0.77%) were invoked on June 2 and June 3, 2025. Cholamandalam Securities Limited invoked the pledges, which were originally given as collateral security for working capital loans. Despite the subject line mentioning 'release', the actual event reported in the revised filing is invocation, not release.
Pledge invocation is a negative signal for shareholders, suggesting the promoters could not meet loan obligations tied to working capital, and the lender has now claimed the pledged shares. This raises concerns about the financial health of the promoter group and may put short-term selling pressure on the stock.