💰 Veefin Solutions Promoter Pledges 6.1 Lakh Shares
Published by OOPSONLINE.IN · Source: scanx.trade · 1 min read · · Updated
What actually happened
Gautam Udani pledged 6,12,647 shares worth ₹17.33 crore for a ₹45 crore debt. The pledge secures NCDs issued by step-down subsidiary Nityo Tech Private Limited. Axis Trustee Services Limited acts as the trustee for the encumbrance. Funds will be used for working capital, capex, and business buyout from Infini Systems. The security cover ratio stands at 0.39:1 against the debt amount.
Key points
- Gautam Udani pledged 6,12,647 shares worth ₹17.
- 33 crore for a ₹45 crore debt.
- The pledge secures NCDs issued by step-down subsidiary Nityo Tech Private Limited.
- Axis Trustee Services Limited acts as the trustee for the encumbrance.
Summary based on data provided by scanx.trade. Full article available at the original publisher.
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- #veefin
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