Saphire Finman Services LLP has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Saphire Finman Services LLP, along with persons acting in concert (the promoters of TD Power Systems), has filed a disclosure under SEBI Regulation 31(4) confirming that none of their equity shares were encumbered (pledged) during FY 2024-25. The promoter group collectively holds 5,18,78,661 shares, representing 33.22% of the company's shareholding as of March 31, 2025. This is a routine annual declaration required from promoters regarding any pledge or encumbrance on their holdings. The largest individual holders are Saphire Finman Services LLP (15.34%), Nikhil Kumar (11.18%), and Hitoshi Matsuo (6.43%).
This is a positive signal for retail investors. A zero-encumbrance declaration means the promoters have not pledged any of their shares, indicating financial stability of the promoter group and no near-term risk of forced selling or margin calls on pledged shares.