Vishnu Prakash R Punglia Promoters Pare Stake, Inject Proceeds as Interest-Free Loan.
Promoters of Vishnu Prakash R Punglia Limited, including Vishnu Prakash Punglia, Kamal Kishor Punglia, Sanjay Kumar Punglia, and Ajay Punglia, have divested 3.38% of their equity through open market transactions. The move complies with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Company announced that the sale proceeds would be injected back into VPRPL as an interest-free loan. The capital infusion aims to bolster liquidity and support both operational and strategic initiatives. According to the company, the move underscores the promoters’ commitment to long-term growth, financial strength, and stakeholder value.
Even with the reduced holding, promoters affirmed their continued investment in the company's vision, retaining a significant stake and signaling confidence in future business prospects.
VPRPL stated it remains focused on sustainable performance and transparent shareholder communication.
Manohar Lal Punglia, Managing Director, reiterated the company’s dedication to its objectives and sustainable performance.
Unless otherwise specified or the context otherwise requires, all references herein to ‘we', 'us', 'our', 'the Company', 'VPRPL' are to ‘Vishnu Prakash R Punglia Limited'.
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