Promoters extend pledge covering 72 percent of their holding for company debt
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Promoters Gautam Udani and Raja Debnath modified an existing pledge on 63.96 lakh shares of Veefin Solutions, acting as collateral for unrated non-convertible debentures up to INR 35 crore and a term loan totaling INR 85 crore. Based on disclosed share counts, about 72 percent of promoter shares are encumbered, equal to 24 percent of total share capital. Pledged shares carry a market value of about INR 194.93 crore, giving a 2.29x security cover. End use includes acquisitions, general corporate purposes, and personal use by promoters.
Existing pledge extended, not new debt. Promoters at 34.73% with most of their stake pledged. Watch debt servicing and end use.