The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on December ....
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Awaiting price reaction for this filing.
Purple Finance Ltd has disclosed that promoter Ashray Charitable Trust has released an encumbrance (pledge) on 7,61,904 shares, which represents 100% of the promoter's entire shareholding and 1.4% of the company's total share capital. The encumbrance was originally created on 01/08/25 in favour of Deal Money Commodities Pvt Ltd (a broking company), against an amount of approximately Rs. 74.29 lakh, with the security cover valued at Rs. 29.41 lakh (ratio of about 25%). The borrowed amount was being used for margin purposes on behalf of the Ashray Charitable Trust. This is a disclosure under SEBI SAST Regulations explaining the reasons for the encumbrance/release event.
A pledge release is typically a mildly positive signal as it reduces leverage and forced-sale risk on the promoter's holding. However, the promoter stake is very small (just 1.4%), so this event has limited practical impact on shareholding pattern or stock price.