The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jaimin Gupta & PACs
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Jaimin Kailash Gupta, the acquirer of Aarvee Denims and Exports Limited, has disclosed creation of a pledge (encumbrance) on 12,00,000 equity shares, representing 5.12% of the company's paid-up share capital, on May 14, 2025. The pledged shares come from his individual holding of 88,12,561 shares (37.56%). After the pledge, his unencumbered holding stands at 76,12,561 shares (32.45%), while total holding remains unchanged at 37.56%. The acquirer and PACs (Tarachand Gangasahay Agrawal and Qmin Industries Limited) acquired shares through a Share Purchase Agreement (Sept 2024), amendment agreements, and an Open Offer. Upon completion of the SPA transaction, Jaimin Gupta will be reclassified as promoter of the company.
This is a creation of a pledge (not a sale), so the promoter's economic stake remains the same. However, 5.12% of the company's shares are now encumbered, which introduces a risk for shareholders if the pledge is invoked. Investors should monitor any future disclosures about pledge invocation or release, as that could affect share price and promoter stability.