The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Axis Trustee Services Ltd
NEOGEN · price
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Axis Trustee Services Ltd (ATSL) has disclosed creation of encumbrance (pledge) on 20,19,167 equity shares of Neogen Chemicals Ltd, representing 7.65% of the total share capital of 2,63,81,674 shares. ATSL is acting as pledgee in its capacity as Debenture Trustee. Before this pledge creation, ATSL held NIL shares and encumbrances. The company clarifies that ATSL does not hold any beneficial interest in the pledged shares - they are acting purely as a trustee. The pledge was created on April 13, 2025 (though the document incorrectly states April 13, 2026). This filing is made pursuant to Regulation 29(1) of SEBI (SAST) Regulations 2011 for disclosure of encumbrances.
The pledge of 7.65% shares indicates a debenture financing arrangement. While ATSL holds no beneficial interest and is not a promoter, the significant pledge position could signal financial stress or leveraged financing for the underlying borrower. Investors should monitor if the pledge is released or invoked, which could impact free-floating share availability.