Update regarding pledge of shares
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Awaiting price reaction for this filing.
The company has informed BSE about the resolution of a long-standing pledge involving 31,290 equity shares originally pledged in 1995 by late promoter Mr. Madanlal Taparia with Bank of Rajasthan (now merged into ICICI Bank). The loan was fully repaid in 1998, but the physical shares were misplaced during the bank's merger and could not be returned. After ICICI confirmed the shares were lost, it issued duplicate shares in 2024 and dematerialised them. On 26 November 2025, these shares were transferred to the Executor of the probated Will and then equally distributed to the two beneficiaries, Mr. Sharad Taparia and Mr. Mukul Taparia (15,645 shares each). The company has requested BSE to close the 'promoter shares pledged' disclosure, noting the transfer is exempt from SEBI Takeover Regulations as it is a succession under a probated will.
This is a housekeeping disclosure and should have no negative impact on the stock. The legacy pledge marker on promoter holdings can now be removed, slightly improving the clean status of promoter shareholding. Shareholders should view this as a neutral, governance-positive update that closes a decades-old open item.