The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on August 14, 2025 for Kalpathi S ....
VERANDA · price
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Awaiting price reaction for this filing.
Promoters of Veranda Learning Solutions — Kalpathi S. Aghoram, Kalpathi S. Ganesh, and Kalpathi S. Suresh — have disclosed a complete release of encumbrance on their shareholding. A total of approximately 3.84 crore shares (~41.10% of total share capital) have been freed from encumbrance. The release covers two components: roughly 1.42 crore shares (~15.14%) that were under a Non-Disposal Undertaking (NDU) and about 2.43 crore shares (~25.96%) that were pledged against VXL debentures. The release was triggered on August 8, 2025, after Catalyst Trusteeship Limited (acting as common security trustee for BPEA Credit India Fund III, Pica Capital, and Aarti Rahul Chhabria) issued an NOC following redemption of the debentures. Post-event, the promoters hold zero encumbered shares, while retaining their aggregate stake of about 41.10% in the company. The filing was resubmitted in revised form at the exchange's request to include the names of the NCD holders.
This is a positive development for shareholders, as it completely removes the overhang of encumbrance on nearly all promoter shares, signalling improved financial flexibility for the promoters and reducing forced-sale risk. With ~41.10% promoter holding now fully unencumbered, governance comfort improves.