Ravi Agrawal, a promoter of Ajanta Pharma Limited, has announced the release of a pledge on 6,910 equity shares of the company. This action is a release of a previous pledge due to ‘Excess Pledge.’ The disclosure was made in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The move provides details on the change in the promoter’s encumbered shareholding.
Promoter Share Pledge Released
In a recent disclosure, Ravi Agrawal, a promoter of Ajanta Pharma Limited, has formally announced the release of a pledge on 6,910 equity shares. The reason cited for this release is related to ‘Excess Pledge,’ indicating a resolution of a prior encumbrance.
Regulatory Compliance
This disclosure is made in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has submitted the prescribed form under Regulation 31(1) and 31(2) of these regulations, detailing the release of pledge on the specified shares of Ajanta Pharma Limited.
Shareholding Details
The filing indicates that Ravi P. Agrawal, as trustee of the Ravi Agrawal Trust, previously had 1,480,300 shares encumbered, representing 1.18% of the total share capital. Following the release of 6,910 shares, the remaining encumbered shares for this trust are now 1,473,390, still representing 1.18% of the total share capital. The post-event holding of encumbered shares for Ravi P. Agrawal, trustee Ravi Agrawal Trust, stands at 1,473,390 shares, representing 1.18% of the total share capital.
The release pertains to a pledge to Business Financing, with Aditya Birla Capital Limited acting as the lender and Barclays Securities (India) Private Limited as the Depositary Participant.
Source: BSE
