The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gajwel Developers Pvt Ltd
VIRINCHI · price
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Gajwel Developers Private Limited, part of the promoter group of Virinchi Limited, has pledged 30,00,000 equity shares (2.92% of the company's total share capital) off-market on April 22, 2025. This pledge represents half of Gajwel Developers' total holding of 60,00,000 shares (5.85%) in Virinchi. No shares were actually bought or sold — these shares were simply encumbered (pledged) in the depository. The total equity share capital of Virinchi remains unchanged at 10,26,46,896 shares, and the overall promoter group stake stays the same.
This is a pledge creation, not a stake sale or invocation, so immediate share price impact is limited. However, rising promoter pledging can raise concerns about financial health of the promoter group. Investors should keep an eye on whether total pledged shares by promoters increase further.