Promoters pledge 94 percent of holdings worth Rs 115 cr as collateral for debt

Pledge Above 50pctOwnership Changes View source PDF Explain this filing

Price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-7.7%Reaction day

₹277.45

prior close

₹260.50

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-7.9% vs market

IT Enabled Services peers, median of 73sector-0.3%-7.5% vs sector

On the reaction day the stock moved 7.9 pts less than Nifty Microcap 250 and 7.5 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.0

10m

+0.2

15m

+0.2

30m

+1.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-7.7+0.2-7.9-0.3-7.5

Next day

-11.4+0.2-11.6-0.4-11.0

-9.9+0.4-10.2-0.9-9.0

-11.0+0.7-11.7-1.4-9.6

-10.3+0.1-10.4-2.1-8.2

-9.9+0.7-10.6-1.8-8.1

-13.1+1.2-14.3-0.7-12.4

15d

-17.1+0.7-17.8-2.4-14.7

-10.3-1.2-9.0-3.2-7.0

-17.8-1.1-16.7-6.9-10.9

—————

UpDownMarket · Nifty Microcap 250Sector · IT Enabled Services peers, median of 73Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Promoters Gautam Udani and Raja Debnath of Veefin Solutions have created a pledge on 83.75 lakh shares (31.43 percent of total share capital, 94.43 percent of promoter holdings) as collateral for a Rs 115 crore loan from Strides Ventures Debt Fund 4, with Axis Trustee Services as trustee. Pledged shares are valued at about Rs 253.93 crore at Rs 303.18 per share, giving a security cover of 2.21 times. Debt will be used for working capital, general corporate purposes and personal use by promoters.

Likely market impact

94 percent of promoter shares now pledged for Rs 115 cr debt, raising risk of margin call or forced sale if stock falls below 2.21 times cover.