Axis Trustee Services Limited has disclosed receiving 20,19,167 equity shares of Neogen Chemicals as pledged securities, representing 7.65% of the company's paid-up capital. The disclosure was made under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in their capacity as debenture trustee.

Regulatory Disclosure and Trustee Role

Axis Trustee Services Limited submitted the mandatory disclosure to both BSE Limited and National Stock Exchange of India Limited on April 14, 2025. The trustee clarified that they hold no beneficial interest in the pledged shares and received them solely in their capacity as debenture trustee pursuant to SEBI regulations.

Share Pledge Transaction Details

The pledge creation involves Dr. Harin Haridas Kanani, a promoter of Neogen Chemicals, who pledged the shares to facilitate borrowing and fund raising by Cadamba Solutions Private Limited, a promoter group member. Prior to this transaction, Axis Trustee Services Limited held no shares or encumbrances in Neogen Chemicals.

Promoter Holdings Structure

Dr. Harin Haridas Kanani maintains significant holdings in Neogen Chemicals with 33,38,250 shares representing 12.65% of total share capital. The promoter group structure includes multiple family trusts and individual holdings across the Kanani family members.

Compliance and Market Information

The disclosure demonstrates adherence to SEBI's transparency requirements for substantial shareholding changes and encumbrance creation. Neogen Chemicals shares are listed on both major Indian stock exchanges, with the company maintaining a total equity share capital of 2,63,81,674 shares as per the latest shareholding pattern for the quarter ended December 2025. The transaction reflects the interconnected financial arrangements within promoter group structures while ensuring regulatory compliance through proper trustee mechanisms.

Neogen Chemicals promoter Dr. Harin Haridas Kanani has disclosed the creation of a pledge on 13,19,083 equity shares of the company on March 30, 2026. The pledged shares constitute 5% of the company's paid-up capital and were encumbered to facilitate borrowing and fund raising activities by Cadamba Solutions Private Limited, a promoter group member.

Pledge Transaction Details

The disclosure filed under Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 reveals the following transaction specifics:

Promoter Holdings Overview

Dr. Harin Haridas Kanani's shareholding position before and after the pledge creation shows his significant stake in the company:

Promoter Group Structure

The disclosure also provides a comprehensive view of the promoter group's shareholding pattern, with various family trusts and individual promoters holding stakes in the company. The Haridas Kanani Family Trust holds the largest stake at 20% with 52,76,500 shares, followed by Dr. Harin Haridas Kanani's individual holding of 12.65%.

Regulatory Compliance

The pledge creation has been duly reported to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements. The company trades on BSE with scrip code 542665 and on NSE with the symbol NEOGEN. The disclosure ensures transparency regarding changes in promoter shareholding encumbrances as mandated by securities regulations.

Purpose and Implications

The pledged shares will serve as security for borrowing arrangements by Cadamba Solutions Private Limited, indicating the promoter group's strategic financial planning. This transaction represents a standard corporate finance mechanism where promoter holdings are leveraged to support group company funding requirements while maintaining operational control of the listed entity.