Promoter Vishnu Prakash Punglia revoked the pledge on 25,53,491 shares of Vishnu Prakash R Punglia , representing 2.05% of the company’s total voting capital. The transaction was executed on August 21, 2026.

The disclosure was filed with the Bombay Stock Exchange and the National Stock Exchange on August 25, 2026, pursuant to Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The pledge was originally created in favor of Sidhpu R Commoties Pvt. Ltd.

Holding Structure Changes

Prior to the pledge revocation, Vishnu Prakash Punglia held 72,66,000 shares in the target company, constituting 5.83% of the total share capital. Of this holding, 71,50,000 shares (5.74%) were encumbered through pledges.

Following the release of the pledge, the promoter’s unencumbered holding increased. The encumbered portion decreased by the released amount. The total promoter holding remains at 72,66,000 shares.

Transaction Details

The table below outlines the encumbrance details as per the regulatory filing:

The revocation pertains to shares pledged to Sidhpu R Commoties Pvt. Ltd. The filing indicates that 459,650 shares (3.69%) remain part of the broader encumbrance structure or related holdings as disclosed in the report.

Total Stake Remains Constant

The promoter’s aggregate holding in the company stands at 72,66,000 shares, equivalent to 5.83% of the total diluted share capital. This figure includes both voting rights and encumbered shares.

The total equity share capital of Vishnu Prakash R Punglia Limited remains at 12,46,44,000 equity shares of ₹10 each, aggregating to ₹1,24,64,40,000. No new shares were issued or acquired during this transaction; the change reflects only a shift in the lien status of existing holdings.

Vishnu Prakash R Punglia Limited has received a full judgment from the High Court of Judicature for Rajasthan, Jodhpur, staying the encashment of its bank guarantee for 45 days. The order pertains to a contractual dispute with North Western Railway regarding the major upgradation of Bikaner Railway Station.

The company’s joint venture, VPRPL-KSIPL BKN JV, had previously received termination notices from the railway department on May 13 and May 14, 2026. The court order, pronounced on August 17, 2026, and received on August 19, 2026, maintains the status quo as of July 21, 2026, for a period of 30 days from the date of pronouncement.

Key Court Order Details

The judgment grants the petitioner liberty to avail appropriate and efficacious remedies before the competent forum. Vishnu Prakash R Punglia Limited stated it would file a petition before the competent forum as per the liberty granted by the court.

Financial Implications

The encashment of the performance guarantee and security deposit is stayed for the specified 45-day period. However, the company clarified that the performance guarantee and security deposit are already encashed, meaning there is no further financial implication at this stage. The company noted that the fresh tender process by the department cannot be decided at this stage, as no letter of award was issued up to July 21, 2026. This temporary stay prevents immediate financial outflow related to the forfeiture of guarantees while legal proceedings continue.