The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on December 15, 2025 for Abhishek Pathak ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promoters Abhishek Pathak and Kumar Mangat Pathak have disclosed creation of new pledge encumbrance on their shares in Panorama Studios International Ltd, reported on December 15, 2025. Abhishek Pathak pledged an additional 12,00,000 shares (6.45% of share capital), taking his total encumbered shares to 16,45,000 (8.84% of capital). Kumar Mangat Pathak pledged 8,00,000 additional shares (4.30%), taking his total encumbered position to 11,00,000 shares (5.91%). The lender for both pledges is Neuzen Finance Private Limited, and the stated reason is personal borrowing. Post-pledge, Abhishek Pathak holds 49.37% of the company (below the 50% threshold), while Kumar Mangat Pathak holds 35.56%.
The increased pledging signals that promoters are leveraging their equity for personal loans, which raises monitoring risk for retail investors — sharp stock price drops could trigger margin calls. With Abhishek Pathak already holding below 50%, further encumbrance reduces the free float available in the market.