Rajesh Arora has submitted to the Exchange a copy of DISCLOSURE IN TERMS OF REG. 31(1) & (2) OF SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATION, 2011.
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Awaiting price reaction for this filing.
Promoter Rajesh Arora has informed the exchanges about the release of encumbrance on 3,60,140 shares of Varvee Global Limited (formerly Aarvee Denims and Exports Limited), representing 1.53% of the company's total share capital. The encumbrance was in the form of a pledge or non-disposal undertaking, and the release happened on 05 July 2025, with the disclosure filed on 10 July 2025. After this release, the promoter's encumbered holding stands at 0 shares. The promoter's total holding remains at 3,60,140 shares (1.53%), unchanged in absolute terms — only the encumbrance on these shares has been removed.
This is a positive development for shareholders, as the complete release of pledged shares reduces the risk of forced selling or margin call-related selling pressure. However, the size of the pledge released is relatively small (1.53%), so the direct impact on the stock price is likely to be limited.