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

Pledge Above 50pctOwnership Changes View source PDF

NEOGEN · price

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+0.6%1-day move

₹1663.50

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₹1663.50

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AI summary

Promoter Dr. Harin Haridas Kanani has disclosed the creation of a pledge on 20,19,167 equity shares (7.65% of paid-up capital) of Neogen Chemicals Ltd. The shares were pledged in favour of Axis Trustee Services Limited on April 13, 2026. The purpose is to facilitate borrowing by Cadamba Solutions Private Limited (a promoter group company) from Avendus Structured Credit Fund III. This is a revised disclosure submitted on April 29, 2026, following a BSE query dated April 27, 2026 about discrepancies in the earlier filing dated April 13, 2026. Dr. Harin Haridas Kanani holds 33,38,250 shares (12.65% of total share capital), of which 20,19,167 shares (60.5% of his holding) are now pledged.

Likely market impact

A significant portion of a key promoter's shares being pledged (over 60% of his holding) signals potential risk if lenders invoke the pledge in case of loan default. This could lead to dilution of promoter stake and may concern minority shareholders about control dynamics.