The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 08, 2025 for Murali Krishna Jonnavittula
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Promoter Murali Krishna Jonnavittula has created a pledge on 2,50,000 equity shares (1.08% of share capital) of Vedavaag Systems Limited, in favor of Hindustan Agrigenetics Limited. The pledge was created on March 29, 2025 as security against a working capital loan extended to the company. Post this creation, the promoter's total encumbered shares stand at 12,50,000 (5.38% of share capital), while his overall promoter holding remains at 45,98,712 shares (19.81% of share capital). The disclosure was filed with BSE on April 8, 2025.
Pledging of promoter shares is generally viewed cautiously by retail investors as it raises the risk of forced sale if the loan is not repaid. However, since the loan is for the company's working capital needs rather than personal borrowing, the concern is somewhat mitigated. Investors should monitor any further pledging or invocation closely.