Anupam Rasayan Promoter Pledges 14.6 Lakh Shares Amid Rising Encumbrances

Anupam Rasayan promoter Mona Anandbhai Desai pledged 14,60,625 shares of the company on September 23, 2026. This increased her total encumbered holding to 3.64% of the total share capital. The pledge was made to Catalyst Trusteeship Limited as security for non-convertible debentures (NCDs) issued by Mates Visa Consultancy and Rehash Industrial and Resins Chemicals Private Limited.

The disclosure was filed under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The pledge is part of a series of encumbrances by promoter group members in September 2026. Anand Sureshbhai Desai previously pledged shares to secure NCDs for the company and its subsidiaries.

In addition to Mona Anandbhai Desai's pledge, Shraddha Anand Desai pledged 50,00,000 shares to Tata Capital Limited to secure a loan. The combined pledges by the promoter group now cover approximately 11.86% of the total share capital. This highlights significant leverage at the shareholder level tied to corporate and subsidiary debt.

The historical stock returns for Anupam Rasayan show a decline of -8.14% over the past year. The concentration of encumbrances across multiple family members raises questions about potential liquidity risks and institutional investor sentiment.