The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 23, 2025 for Gajwel Developers Pvt Ltd
VIRINCHI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Gajwel Developers Pvt Ltd, a promoter of Virinchi Limited, has created a pledge on 30,00,000 equity shares (2.92% of total share capital) in favour of IIFL Securities Limited, an NBFC, effective April 22, 2025. The pledge is to secure a loan of Rs. 2 crore taken by Virinchi Limited for working capital needs. The value of the pledged shares on the date of the event was around Rs. 6.83 crore (Rs. 22.78 per share), giving a healthy security cover ratio of about 3.4 times. Post-pledge, the total encumbered shares stand at 7.79% of the promoter's overall shareholding (3,85,05,538 shares, or 37.51% of Virinchi's capital), well below the 50% promoter holding and 20% total share capital disclosure thresholds.
This is a routine pledge creation by a promoter to support the company's own working capital borrowing, not a sign of financial stress or stake change. The encumbrance level remains low (under 8% of promoter holding), so it should not materially concern shareholders in the short term.