The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 29, 2026 for Dr. Harin Haridas Kanani
NEOGEN · price
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Promoter Dr. Harin Haridas Kanani has submitted a revised disclosure under SEBI SAST Regulations regarding the creation of a pledge on 13,19,083 equity shares of Neogen Chemicals Limited, constituting 5% of the company's paid-up capital. The pledge was created on March 30, 2026, in favour of Axis Trustee Services Limited to facilitate borrowing by Cadamba Solutions Private Limited (a promoter group entity) from Avendus Structured Credit Fund III. Dr. Harin holds 33,38,250 shares (12.65%) in the company, of which 5% of total share capital is now pledged. This is a corrected resubmission of the original March 30, 2026 disclosure following a discrepancy raised by BSE.
A portion of the promoter's personal shareholding has been pledged as collateral for a promoter group company's loan, which is a common practice but introduces a risk of invocation if the borrower defaults. Investors should keep an eye on the promoter group's debt servicing and any further encumbrance on promoter shares.