Bengaluru, Sept. 17 -- Recently, several small-cap companies have seen their promoters revoke or substantially reduce pledged shares. Pledging shares is when promoters use their own holdings as collateral for loans, which can be risky if those shares must be sold in case of financial stress.

When pledges are revoked or reduced, it often signals improving balance sheets, lower debt dependence, and enhanced investor confidence. Let's look at three such small caps where promoters have unpledged shares or sharply cut their pledge levels.

Here are a few small-cap stocks in which promoters revoked a pledge on shares on 16th September 2025 ADF Foods Limited With a market capitalization of Rs. 2,580.70 crore, the shares of ADF Foods Limited wer...