Rolex Rings Limited has informed the Exchange regarding 'SAST DISCLOSURE FOR CREATION OF PLEDGE'.
ROLEXRINGS · price
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Awaiting price reaction for this filing.
Rolex Rings Limited informed the exchanges about a SAST Regulation 31 disclosure from promoter Mr. Manesh Dayashankar Madeka regarding creation of a pledge on his equity shares. A total of 73,00,000 shares were pledged, with 50,00,000 shares pledged in favour of Tata Capital Finance and 23,00,000 shares in favour of Equirus Private Limited. After this pledge creation, the promoter's encumbered holding stands at about 2.68% of total share capital, adding to the pre-existing 9.54% already encumbered. The promoter holds 2,59,89,150 shares (9.54% of total share capital) in the company.
Shareholders should note that the promoter has taken on additional borrowing by pledging more shares, which increases the risk if share prices fall sharply (potential margin call concerns). However, the total encumbrance level is moderate and not at an alarming threshold, so immediate impact on the stock is likely limited.