Devendra Khemka For & on behalf of Saroj Kumar Poddar has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Awaiting price reaction for this filing.
Devendra Khemka, acting on behalf of promoter Saroj Kumar Poddar, has submitted a disclosure to the exchange under Regulation 31(4) of the SEBI Takeover Regulations, 2011. This regulation requires promoters and persons acting in concert to report any encumbrance (pledge) created, invoked, or released on their shares beyond the initial disclosure. The filing confirms a continuing pledge-related obligation, but the specific nature of the transaction — whether shares were newly pledged, existing pledges were invoked, or pledges were released — is not detailed in the headline.
Without details on the direction of the pledge change (creation, invocation, or release), the immediate impact on the stock is unclear; investors should look for the full disclosure or any related margin-call news before drawing conclusions.