Veefin Solutions promoter Raja Debnath pledges more shares with Kotak Mahindra Bank
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 1.2 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.
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Promoter Raja Debnath has pledged 8,89,973 additional shares (3.34 percent of capital) of Veefin Solutions Limited with Kotak Mahindra Bank Limited as collateral for a Rs 30 crore term loan. Post-pledge, his total encumbered shares reach 45,38,940 (17.03 percent of capital), crossing the 50 percent threshold of his individual promoter shareholding at 51.17 percent. Security cover ratio is 0.70 times and end use includes personal needs and working capital.
Raja Debnath's pledged shares now exceed 50 percent of his individual promoter holding. The 0.70x cover means a price drop could trigger margin call risk.