The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on July 17, 2025 for Rita Arora
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Awaiting price reaction for this filing.
Rita Arora, a promoter of Aarvee Denims and Exports Ltd (now Varvee Global Ltd), has released a pledge on 156,104 shares, representing 0.67% of the company's total share capital. The release of encumbrance took place on July 5, 2025, and the disclosure was reported to the stock exchanges on July 10, 2025. Post-release, the promoter continues to hold the same 156,104 shares (0.67%) but with zero shares remaining encumbered. The disclosure was filed under SEBI (SAST) Regulations, 2011.
This is a positive signal for shareholders as a pledge release reduces the risk of forced selling and indicates improved financial flexibility for the promoter. However, given the very small stake size (0.67%), the impact on the stock price is likely negligible.