The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on April ....
VIRINCHI · price
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Awaiting price reaction for this filing.
Promoter entity Gajwel Developers Private Limited has closed/released a pledge on 30,00,000 equity shares (2.92% of Virinchi's total share capital) that were pledged with IIFL Securities Limited. The pledge was released effective April 24, 2025 because Virinchi Limited did not avail the loan for which the shares were given as security. After this release, the encumbered shares of the promoter stand at nil as a percentage of promoter shareholding. Gajwel Developers holds 60,00,000 shares (5.85% of total share capital), while total promoter shareholding in Virinchi is 3,85,05,538 shares (37.51%).
Positive signal for shareholders — the release of the pledge indicates the underlying loan was never drawn, reducing any risk of forced share sale. Promoter encumbrance is now nil, which removes a potential overhang on the stock.