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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Gajwel Developers Private Limited, a promoter of Virinchi Limited, has pledged 30,00,000 equity shares (2.92% of total share capital) with IIFL Securities Limited (an NBFC) on April 22, 2025. The total promoter holding in Virinchi stands at 3,85,05,538 shares (37.51% of total share capital), of which only 7.79% is now encumbered. The pledged shares are valued at Rs. 6.83 crore against a loan of Rs. 2 crore, giving a healthy security cover of 3.4x. The loan has been raised for the benefit of Virinchi Limited specifically to fund its working capital needs.
This is a routine promoter pledge creation to raise working capital for the company itself, not a personal loan or distress signal. The pledge covers a small fraction of total promoter holding and the security cover is strong, so it carries low risk for shareholders.