Promoter group pledges 1.5 million Responsive Industries shares
RESPONIND · price
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On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 1.6 pts more than its Furniture Home Furnishing peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Responsive Industries' revised filing reports that promoter-group member Fairpoint Tradecom LLP pledged 1,500,000 shares, or 0.56 percent of total capital, to Virtue Financial Services on September 30 for personal borrowing. Fairpoint holds 2,465,000 shares, or 9.25 percent. The filing reports 3,499,971 total pledged shares, or 14.20 percent of promoter holdings, below 50 percent and also below 20 percent of total capital.
The lender gains security over promoter shares, adding risk. The pledge is below 50 percent of promoter holdings; no sale or invocation is reported.