Pardeep Garg Family Trust has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Awaiting price reaction for this filing.
Pardeep Garg Family Trust, one of the promoters of Kundan Minerals and Metals, has filed its annual declaration under SEBI's Takeover Regulations confirming that the promoter group did not create any encumbrance (pledge or lien) on shares during FY 2024-25. As on March 31, 2025, the promoter group holds 5,74,58,654 equity shares in the company. The filing also notes that the company allotted 5,74,58,654 equity shares to the Trust on 29/05/2024, which are still pending credit in the Trust's demat account with NSDL/CDSL. The Trust has requested the exchanges to take the declaration on record.
This is a routine compliance filing with no negative signal – no new pledges or encumbrances were created by promoters, which is reassuring for shareholders. The large pending allotment credit could increase promoter shareholding once processed in demat, slightly affecting floating share count.