Algoquant Fintech , a leading financial technology company, has reported significant changes in its share pledges as disclosed by its primary promoter, Algoquant Financials LLP, in recent filings with the BSE.

Pledge Creation and Release

Algoquant Financials LLP executed the following transactions:

New Pledges Created

• Total shares pledged: 4.36 crore (15.52% of total capital)
  • 4.10 crore shares (14.59%) pledged to Globe Capital Market Limited
  • 26.25 lakh shares (0.93%) pledged to Globe Capital Market Limited

Pledges Released

• 3.98 crore shares (14.16% of total capital) released from the MCX Commodity segment

Segment Transfer

The transactions involved transferring shares from the F&O segment to the Commodity segment under Globe Capital Market Limited. This reshuffling was conducted for fund-raising purposes, as stated in the company's disclosure.

Promoter Holdings

The promoter group's total holding in Algoquant Fintech stands at 73.68% of the company's share capital. The breakdown is as follows:

Bonus Issue Impact

The company recently issued bonus shares in an 8:1 ratio, proportionally increasing the promoter holdings. This corporate action is reflected in the updated share counts and percentages reported in the latest disclosures.

Regulatory Compliance

These disclosures were made in compliance with Regulation 31(1) and 31(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has duly informed the BSE Limited, where its shares are listed.

Algoquant Fintech continues to maintain transparency in its promoter shareholding and encumbrance activities, keeping investors and regulatory bodies informed of these significant changes in share pledges.

Algoquant Fintech , a promoter of Algoquant Fintech Limited, has released the encumbrance on a significant portion of its shareholding, according to a recent disclosure to the Bombay Stock Exchange (BSE).

Pledge Release Details

The promoter entity released the pledge on 60,24,998 equity shares, representing 19.29% of Algoquant Fintech's total share capital. This release was executed on August 19, and the shares were previously pledged to Globe Capital Market Limited for fund-raising purposes.

Impact on Promoter Shareholding

Following this release, Algoquant Financials LLP's encumbered shareholding has decreased substantially:

The promoter group, which includes Algoquant Financials LLP, Dhruv Gupta, and Devansh Gupta, collectively holds 2,30,13,112 shares, representing 73.68% of the company's total share capital.

Segment Change in Pledge

It's worth noting that while the shares were released from the F&O (Futures and Options) segment, a separate pledge was created in favor of the same entity, Globe Capital Market Limited, under the commodity segment. This change in segment does not affect the overall pledged position but represents a shift in the nature of the encumbrance.

Promoter Shareholding Breakdown

The LODR disclosure provides a detailed breakdown of the promoter shareholding:

Additional Information

The company recently underwent a stock split, changing the face value of its shares from Rs. 2 to Rs. 1. This split has resulted in an increase in the number of shares held by the promoters and the number of encumbered shares.

Investors and market participants are advised to take note of these changes in the promoter's pledged shareholding, as it may have implications for the stock's performance and market perception.