Responsive Industries Limited has informed the Exchange regarding 'Disclosure for release of pledged shares' by the promoter group entity of the company'.
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Fairpoint Tradecom LLP (Promoter Group) has released a pledge of 3,00,000 equity shares held in Responsive Industries Limited. The shares were pledged in favour of Imperial Solutions Private Limited. After the release, the promoter entity now has 74,69,971 shares (2.80% of total share capital) remaining encumbered out of its total holding of 2,46,50,000 shares (9.25% of total share capital). The encumbered portion represents 31.5% of the promoter shareholding, which is below the 50% threshold. The value of shares released was Rs. 4,75,20,000.
The release of pledge reduces the promoter's encumbered shares, which is a positive signal indicating improved promoter financial flexibility. However, the overall promoter holding remains modest at 9.25% with no significant immediate impact on stock valuation expected.