Prakash Industries: Promoter Group Releases 11.53 Lakh Shares from Pledge

Prakash Industries Limited has announced the release of 11,53,801 equity shares from pledge by its promoter group, Shree Labh Lakshmi Capital Services Pvt. Ltd. This action, reported on July 4, 2026, under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, signifies a reduction in encumbrance. The shares were released from a pledge to Virtue Financial Services Pvt. Ltd. The total number of shares held by the promoter group before the release was 23,11,471 (1.29% of share capital), and after the release, it stands at 15,36,071 (0.86% of share capital). This move may indicate increased confidence or a change in financial arrangements by the promoter.