Responsive Industries Limited has informed the Exchange regarding 'Disclosure for creation of pledge by promoter group of the company'.
RESPONIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Responsive Industries Limited informed the exchanges that Fairpoint Tradecom LLP, part of the promoter group, has created a pledge on 26,50,000 equity shares for personal borrowing. Of these, 3,00,000 shares (0.11% of total share capital) were pledged with Virtue Financial Services Limited and 23,50,000 shares (about 0.88%) with Imperial Solutions Private Limited. The total value of the pledged shares on the date of the event was approximately Rs. 45.21 crore. After this pledge, the promoter group's encumbered shares rise to about 26% of their total holding, which is 9.25% of the company's total share capital.
This is a routine disclosure of a new pledge created by the promoter group for personal borrowing. While the encumbered portion of the promoter holding is increasing, it remains well below the 50% threshold, so it is not an immediate red flag, but investors may want to keep an eye on further pledge activity.