Dr. Harin Haridas Kanani, a promoter of Neogen Chemicals Limited, has pledged 13,19,083 equity shares, representing 5% of the company’s paid-up capital. This strategic financial arrangement, finalized on March 30, 2026, was executed in favour of Axis Trustee Services Limited. The purpose of this pledge is to support the fund-raising requirements of Cadamba Solutions Private Limited, a member of the promoter group, through Avendus Structured Credit Fund III.
Details of the Share Pledge
As part of a recent financial disclosure, Dr. Harin Haridas Kanani confirmed the creation of an encumbrance on 13,19,083 equity shares of Neogen Chemicals Limited. The transaction officially took place on March 30, 2026. These pledged shares constitute 5% of the total paid-up share capital of the company.
Rationale for the Transaction
The pledge serves to facilitate the borrowing and capital-raising activities for Cadamba Solutions Private Limited. As an entity within the promoter group, Cadamba Solutions is utilizing this credit facility from Avendus Structured Credit Fund III to meet its financial objectives. The shares have been pledged in favour of Axis Trustee Services Limited to secure this financing.
Promoter Shareholding Context
Following this transaction, the promoter’s individual encumbered holding is established at 13,19,083 shares (5%). This disclosure ensures transparency regarding the promoter group’s financial commitments and the alignment of shareholding with the broader group’s liquidity requirements.
Source: BSE
