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Last Updated : Jul 12, 2019 02:23 PM IST | Source: Moneycontrol.com

Manpasand Beverages locked at lower circuit after promoter pledges entire stake

Promoter Dhirendra Singh, on July 4, created a pledge on its entire shareholding of 44.32 percent with Finquest Financial Solutions Pvt Ltd.

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Manpasand Beverages shares were locked at 5 percent lower circuit at Rs 35.15 on July 12 after promoter pledged his entire stake.

There were pending sell orders of 24,746 shares, with no buyers available on the BSE at 1345 hours.

Promoter Dhirendra Singh, on July 4, created a pledge on its entire shareholding of 44.32 percent with Finquest Financial Solutions Pvt Ltd.

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He pledged shares to arrange working capital for the company.

"To meet the current working capital requirements of the company, the board has unanimously decided to avail loan of Rs 100 crore against the mortgage of assets of the company and pledge of 100 percent shareholding of the promoter Dhirendra Singh who is holding 44.32 percent of total issued and paid up capital of the company," Manpasand said in its BSE filing on July 11.

In addition, Bhavesh Jinger, Company Secretary and Compliance Officer, has tendered resignation with effect from May 30, it added.
First Published on Jul 12, 2019 02:23 pm
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