The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on December 12, 2025 for Harshbeena ....
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Promoter Harshbeena Sahney Zaveri filed a revised disclosure (originally filed for events on 19–20 Nov 2025) correcting discrepancies flagged by BSE. She has created a fresh pledge of 21,914,877 shares (22.61% of total share capital) with Tata Capital Limited (an NBFC) in her individual capacity. In a matching move, Trilochan Singh Sahney Trust – 1 released its pledge on 28,700,000 shares (29.61% of capital), with post-release encumbrance falling to 6,785,123 shares (7.00%). The total promoter-group pledged shares remain unchanged at 22.61% of capital, as this is an inter-se promoter re-arrangement tied to a family settlement. Encumbered shares now represent 54.50% of Harshbeena's personal promoter holding (41.48% of total capital). The value of encumbered shares is ~Rs. 828.83 crore against a loan amount of ~Rs. 291.75 crore (coverage 2.84x), used for personal/family purposes.
No change in the promoter group's overall economic stake or total pledged percentage, so this is largely a cosmetic reshuffle between promoter entities. However, 54.50% of Harshbeena Sahney Zaveri's individual holding is now encumbered for a personal/family-settlement loan from Tata Capital, which warrants monitoring if share prices move sharply or if any invocation risk arises.