The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on June 18, 2025 for Gautam Udani & Raja Debnath
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Awaiting price reaction for this filing.
Promoters Gautam Udani and Raja Debnath have created a pledge on their shares in Veefin Solutions Ltd on June 16, 2025. Together, they have pledged 57,53,618 shares (23.59% of total share capital) as collateral for a term loan from Piramal Trusteeship Services Private Limited (acting for Piramal Finance Ltd). The loan amount is ₹65 crore, against shares valued at approximately ₹200 crore (a comfortable 3.08x cover). Total promoter holding stands at 36.36% of the company, of which 64.87% is now encumbered. The borrowed amount will be used partly for personal purposes and partly to fund acquisition of White Rivers Media Solutions Pvt Ltd by Infini Systems Ltd and Nityo Tech Pvt Ltd (group companies).
Pledging nearly two-thirds of promoter holdings raises a governance flag for retail investors, though the high 3x share cover provides significant cushion. If the promoters fail to service the ₹65 crore term loan, the pledged shares (23.59% of the company) could be invoked, potentially leading to a change in shareholding or stock price volatility. Watch for any margin call triggers or further disclosures on the group's acquisition activities.