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 ....
SAYAJIHOTL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promoter Raoof Razak Dhanani has released 9,75,000 equity shares of Sayaji Hotels from pledge with State Bank of India Limited, following repayment of a loan. The encumbered shares have come down from 12,75,000 (7.27% of share capital) to 3,00,000 (1.71% of share capital). His total holding in the company stands at 15,27,630 shares (8.72% of share capital). The shares were valued at Rs. 298.20 per share on the date of the event. The disclosure was filed under Regulation 31(2) of SEBI SAST Regulations, 2011.
Positive signal — the promoter has reduced his pledged shares by repaying a bank loan, which lowers financial risk on his holdings and is generally viewed favourably by investors.