Gem Enviro Management has entered into a share subscription agreement to acquire a 75% stake in Novuscom Neo Private Limited. The transaction, executed on September 16, 2026, involves a total consideration of ₹30 lakh.

The company will acquire 30,000 equity shares and 2,70,000 0.001% compulsorily convertible preference shares (CCPS) from Novuscom. Each share carries a face value of ₹10 and an issue price of ₹10. This investment marks Gem Enviro’s entry into the entity, with no prior shareholding disclosed.

Deal Structure and Control Rights

The agreement grants Gem Enviro significant control over Novuscom’s governance. Key terms include:

• Right to nominate up to three directors on the board of Novuscom
• Pre-emptive rights on further issuance of equity securities
• Right of first offer on any transfer of shares by Novuscom promoters
• Specified tag-along rights

Novuscom will become a subsidiary of Gem Enviro following this investment. The transaction is not classified as a related-party transaction, as Novuscom is not related to the promoter group or group companies of Gem Enviro.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It serves as a continuation of an earlier corporate announcement dated August 25, 2026. The company confirmed that all terms are detailed in the executed Share Subscription Agreement.

Gem Enviro Management promoters pledged 60,24,000 equity shares on September 8, 2026. The encumbrance covers 26.71% of the total share capital. The pledge was created in favor of Share India Securities Limited.

The disclosure was filed under Regulation 31(1) read with Regulation 31(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. BLP Equity Research Private Limited, acting as the promoter entity, submitted the details to BSE Limited on September 10, 2026.

Pledge Details

Three promoter entities created the encumbrance simultaneously. The total value of the shares on the date of the event was ₹20,81,29,200, calculated at a price of ₹34.55 per share. The amount involved against which the shares were encumbered was ₹10,40,64,600, representing a security cover ratio of 1:0.5.

Promoter Holding Structure

BLP Equity Research Private Limited holds 58,09,600 shares, representing 25.76% of the total share capital. Of this holding, 61.17% has been encumbered. Dinesh Pareekh holds 6,80,000 shares (3.02%), while Sangeeta Pareekh holds 17,90,400 shares (7.94%). Both individual promoters have encumbered 100% of their respective holdings.

The total promoter shareholding stands at 73.71% of the company’s equity. The newly created pledge represents 36.24% of the total promoter group’s holding. Other promoters, including Sachin Sharma and Sarthak Agarwal, did not create any new encumbrances during this period.

What the Numbers Show

The pledge structure reveals a divergence in funding purposes within the promoter group. While the corporate entity, BLP Equity Research Private Limited, cited "Business Purpose" for its pledge of 35,53,600 shares, the individual promoters linked their pledges strictly to "Personal Purpose." This suggests that the corporate borrowing may be distinct from the personal liquidity requirements of the key individuals, despite both being secured against the same listed entity’s equity.