Prime Fresh Limited promoter Hardik Chandrakant Ghelani has pledged a significant portion of his shareholding to secure banking facilities. The promoter disclosed the encumbrance of 6,25,800 equity shares to the stock exchange, representing 4.55% of the company's total share capital.

Share Pledge Details

The pledge transaction was executed on March 18, 2026, with the formal disclosure made to BSE Limited on March 19, 2026. The shares have been pledged to Bank of Baroda as collateral for loan facilities.

Promoter Holdings and Encumbrance Status

Prior to this transaction, Hardik Chandrakant Ghelani held 6,25,800 shares representing 4.55% of Prime Fresh Limited's total share capital with zero encumbered shares. Following the pledge creation, his entire holding of 6,25,800 shares now stands encumbered.

Regulatory Compliance

The disclosure was made pursuant to Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The promoter submitted the required documentation to both BSE Limited and Prime Fresh Limited, ensuring full compliance with regulatory requirements for share encumbrance reporting.

The company is listed on BSE Limited, and the promoter has fulfilled all disclosure obligations related to the pledge creation. This represents the first instance of share encumbrance by this particular promoter in the target company.

Prime Fresh Limited has successfully obtained trading approval from BSE Limited for 44,715 equity shares that were allotted upon conversion of convertible warrants. The company announced that these shares commenced trading on the BSE platform effective March 19, 2026.

Share Allotment and Conversion Details

The equity shares were originally allotted on February 24, 2026, following the conversion of 44,715 convertible warrants. The allotment was made to Mr. Hiren Ghelani, a promoter of the company, on a preferential basis.

Regulatory Approvals and Timeline

The regulatory approval process followed a structured timeline. BSE Limited initially granted listing approval on March 11, 2026, for the 44,715 equity shares. Subsequently, the company applied for trading approval, which was granted on March 18, 2026, through BSE's letter and Notice No. 20260318-18.

The newly issued shares rank pari-passu with the existing equity shares of Prime Fresh Limited, ensuring equal rights and privileges for all shareholders.

Lock-in Period and Trading Commencement

The converted equity shares are subject to regulatory lock-in provisions. All 44,715 shares bearing distinctive numbers 13916298 to 13961012 will remain locked-in until October 31, 2027.

Despite the lock-in restrictions, BSE trading members are authorized to facilitate trading in these securities from March 19, 2026, onwards.

Corporate Communication

The announcement was made through a formal communication to BSE Limited, signed by Jasmin Doshi, Company Secretary of Prime Fresh Limited. The company acknowledged receipt of both the trading approval letter and the official notice from BSE, confirming the completion of all regulatory requirements for the warrant conversion process.

This warrant conversion represents a significant corporate action for Prime Fresh Limited, adding 44,715 new equity shares to its traded securities on the BSE platform while maintaining compliance with all regulatory frameworks.