Dr. Harin Haridas Kanani, a promoter of Neogen Chemicals Limited, has filed a revised disclosure regarding the creation of a pledge on 20,19,167 equity shares. This encumbrance, representing 7.65% of the company’s paid-up capital, was executed on April 13, 2026. The action serves to facilitate borrowing and capital raising by Cadamba Solutions Private Limited, a member of the promoter group, from Avendus Structured Credit Fund III.
Pledge Details
On April 13, 2026, Dr. Harin Haridas Kanani created a pledge over 20,19,167 equity shares of Neogen Chemicals Limited. This transaction accounts for 7.65% of the company’s total paid-up share capital. The shares were pledged in favor of Axis Trustee Services Limited to secure funding requirements.
Rationale for Encumbrance
The primary purpose behind this pledge is to support the financial objectives of Cadamba Solutions Private Limited, which is part of the Neogen Chemicals promoter group. The funds raised through this mechanism from Avendus Structured Credit Fund III are intended to facilitate corporate borrowing activities for the promoter group member.
Promoter Shareholding Overview
Following this transaction, Dr. Harin Haridas Kanani maintains a total holding of 33,38,250 equity shares in the company, representing 12.65% of the total share capital. Other entities within the promoter group, including various Haridas Kanani Family Trusts and individual family members, continue to hold significant stakes in the company, ensuring continued promoter control and alignment with the company’s long-term growth strategy.
Source: BSE
