Poging GOUD - Vrij
Margin Call Hits Gensol Promoters as Scrip Dips
Mint Mumbai
|March 10, 2025
Lenders who gave loans at previous highs left with shares worth far less
Promoters of Gensol Engineering Ltd who pledged shares heavily, are facing the possibility of having to bring in more collateral, at a time when the company's stock has plunged in the middle of a loan default and cash crunch.
Anmol Jaggi and his younger brother Puneet Jaggi pledged an additional 6.23% shares of the solar power plant maker from 1 January to 6 March, taking promoter share pledges to about 88%. The shares have plunged 71.4% from their peak last year. This means the lenders who extended money at previous highs are left with shares that are worth far less.
"The share pledge has increased primarily on account of additional collateral given to the existing lenders due to a decline in the share price," said a spokesperson for Gensol.
Dit verhaal komt uit de March 10, 2025-editie van Mint Mumbai.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN Mint Mumbai
Mint Mumbai
Why are India's rich finally protesting for a better life?
They stood holding English placards, some of which even had commas.
4 mins
November 17, 2025
Mint Mumbai
Resilience spells hope as uncertainty reigns high
As trade-policy turmoil prolongs global uncertainty on an IMF index, we have some bright spots too. India should consider shifting focus from supply-side policies to demand stirrers
2 mins
November 17, 2025
Mint Mumbai
DO YOU OWN PAPER OR GOLD? THE CRITICAL FINE PRINT ON SGBS
Ow Bertie is quite chuffed that he owns Sovereign Gold Bonds (SGBs).
2 mins
November 17, 2025
Mint Mumbai
Financial sector’s report card reveals regulatory gaps
The quinquennial report cards on India’s financial sector have been issued and they present a disturbing picture.
3 mins
November 17, 2025
Mint Mumbai
NEW WAVE OF TECH IPOs LEAVES RETAIL INVESTORS AT RISK
The Indian stock markets are bracing for another wave of what the fashionable set calls 'digital IPOs'.
3 mins
November 17, 2025
Mint Mumbai
COP30 likely to draft new fossil fuel paper
The document may present a road map for transition to a cleaner mode
1 mins
November 17, 2025
Mint Mumbai
The right to privacy
A stable door being bolted after the horses have fled? This view of India’s privacy law may seem justified, given that rules under the Digital Personal Data Protection Act of 2023 were notified only last week, more than eight years after the Supreme Court deemed privacy a fundamental right under the Indian Constitution.
1 min
November 17, 2025
Mint Mumbai
'India shaping development paths'
India has demonstrated that economic growth and social inclusion can advance together and it is helping translate its success stories into global lessons for a more equitable world, a top official of the United Nations Development Programme (UNDP) said.
1 min
November 17, 2025
Mint Mumbai
Satellite internet firms may see fee cut for remote areas
Discount would apply to 5% annual spectrum charge that DoT plans to levy on the firms
2 mins
November 17, 2025
Mint Mumbai
WHY NITISH KUMAR STILL RULES BIHAR’S CHESSBOARD
It was a bright morning towards the end of 2009. Vapours were visible from our cups filled with hot tea at our hotel. We were sitting with a close confidant of Nitish Kumar. I asked him what was the secret of his leader's success? He replied, “on the chessboard of politics Nitish babu, like a knight, can move two and half paces forward and backward simultaneously. His right hand is unaware of what his left hand is about to do?’
3 mins
November 17, 2025
Listen
Translate
Change font size