Neogen Chemicals Promoter Discloses Pledge of 20.19 Lakh Shares
Dr. Harin Haridas Kanani, promoter of Neogen Chemicals Limited, disclosed the pledge of 20,19,167 equity shares (7.65% of paid-up capital) to Axis Trustee Services Limited on April 13, 2026. The pledge facilitates borrowing by Cadamba Solutions Private Limited from Avendus Structured Credit Fund III. The revised disclosure was submitted to stock exchanges on April 29, 2026, under Regulation 31 of SEBI SAST Regulations.

*this image is generated using AI for illustrative purposes only.
Dr. Harin Haridas Kanani, promoter of neogen chemicals , has submitted a revised disclosure to BSE Limited and National Stock Exchange of India Limited regarding the creation of a pledge on 20,19,167 equity shares. The pledged shares constitute 7.65% of the company's paid-up capital and were pledged in favor of Axis Trustee Services Limited on April 13, 2026.
Details of the Pledge
The disclosure was made under Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The pledge was created to facilitate the borrowing or raising of funds by Cadamba Solutions Private Limited, a promoter group member of the company, from Avendus Structured Credit Fund III. The revised disclosure was submitted on April 29, 2026, following an email from BSE Limited dated April 27, 2026, regarding discrepancies in the earlier disclosure.
Promoter Holding and Encumbrance Details
The following table provides details of the promoter holdings and encumbrance as per the disclosure:
| Promoter/PAC | No. of Shares Held | % of Total Share Capital | % w.r.t Diluted Share Capital | Shares Already Encumbered | % of Total Share Capital Encumbered |
|---|---|---|---|---|---|
| Haridas Kanani Family Trust | 52,76,500 | 20.00 | 20.00 | - | - |
| Harin Haridas Kanani | 33,38,250 | 12.65 | 12.65 | 1,31,9,083 | 5% |
| Beena Kanani Family Trust | 26,38,250 | 10.00 | 10.00 | - | - |
| H T Kanani Family Trust | 5,02,000 | 1.90 | 1.90 | - | - |
| Haridas Thakarshi Kanani | 3,75,387 | 1.42 | 1.42 | - | - |
| Beena Haridas Kanani | 3,75,000 | 1.42 | 1.42 | - | - |
| Pallika Haridas Kanani | 9,98,000 | 3.78 | 3.78 | - | - |
Specific Encumbrance Event
The specific details of the encumbrance event for Dr. Harin Haridas Kanani are as follows:
| Parameter | Details |
|---|---|
| Type of Event | Creation |
| Date of Creation | 13-04-2026 |
| Type of Encumbrance | Pledge |
| No. of Shares Pledged | 20,19,167 |
| % of Total Share Capital Pledged | 7.65% |
| Entity in Favor | Axis Trustee Services Limited |
| Reason | To facilitate borrowing by Cadamba Solutions Private Limited from Avendus Structured Credit Fund III |
The disclosure was digitally signed by Dr. Harin Haridas Kanani on April 29, 2026, and addressed to the corporate services departments of both stock exchanges. A copy was also marked to Unnati Kanani, Company Secretary and Compliance Officer of Neogen Chemicals Limited.
Historical Stock Returns for Neogen Chemicals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.44% | +8.24% | +45.49% | +22.04% | +17.99% | +98.14% |
What are Cadamba Solutions Private Limited's expansion plans that require this structured credit funding from Avendus?
How might this additional 7.65% pledge affect Neogen Chemicals' stock liquidity and institutional investor confidence?
Will the promoter group consider reducing their overall encumbrance levels if Neogen Chemicals' share price appreciates significantly?


































