In compliance with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulation,2011 , we hereby inform you that the promoter of the company has disclosed details ....
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VVIP Infratech has informed BSE that promoter Mr. Praveen Tyagi has created an additional pledge of 4,43,000 equity shares (1.77% of total share capital) in favor of CSL Finance Limited, an NBFC. This brings total pledged shares held by the promoter to 23,18,000 shares, or 9.28% of the company's total share capital. The reason given is that the promoter had earlier raised debt for the subsidiary M/s Vibhor Vaibhav Infrahome Private Limited by pledging 18,75,000 shares, but a decline in market value caused a margin shortfall of 4,43,000 shares, requiring additional encumbrance for cover. The promoter holds 1,71,05,900 shares (68.50%) in the company, and the encumbered portion is 13.55% of his shareholding.
Additional pledging of shares due to a market-driven margin shortfall is a mildly negative signal, indicating the promoter is under pressure on an existing loan. However, the pledged shares are only 13.55% of promoter holding and 9.28% of total capital, which is not an alarming level. Retail investors should monitor for any further pledge creation or invocation.