The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Iftikharul Amin & Others
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Awaiting price reaction for this filing.
Promoter Iftikharul Amin has filed a SEBI Reg 29(2) disclosure on behalf of the promoter group, informing that promoter shares have been pledged with SBI CAP Securities / SBI CAP Trustee Company (Mumbai) on 27-Feb-2026 and 02-Mar-2026. The promoter group collectively holds 6,30,77,723 equity shares (58.42% of the company), of which 3,22,48,406 shares (29.87% of total share capital, or roughly 51% of promoter holding) have been pledged. Notably, Iftikharul Amin (14.11%) and Ismat Iqbal (10.31%) have pledged 100% of their holdings, while Iqbal Ahsan has pledged about 55% of his 8.47% stake and Sophia Amin about 26% of her 3.20% stake. No shares were actually bought or sold — this is purely a pledge/encumbrance disclosure, not a change in beneficial ownership.
No change in promoter ownership or control; the shares remain with the promoters but are encumbered as collateral for a loan. However, the high pledge ratio (over half of the promoter stake pledged, with two promoters pledging 100%) is a risk factor — any margin shortfall or loan default could trigger invocation, potentially leading to forced sale of pledged shares and pressure on the stock.