It's just a basic running ledger. You could use a normal swivel weight but this can be expensive in lost gear. You would never need the PVA fishing here in the UK because the bait always weighs less than the lead. With ragi the reverse is true and the weight treks back up the line on the cast. The bead used is a snag safe lead clip by Enterprise Tackle. This just pulls out when snagged freeing the weight. If you add a cork section to the top of the skewer you can balance the weight to stand up vertically on the bottom.
I have never been totally convinced about traditional mahseer weights. I think that they were originally just lead strips rolled around the line for use as a snag weight in rapids. Once they were "refined" by wrapping the lead around a piece of tubing they lost a lot of their original function - they couldn't be pulled free. They are cheap to make and look good but imho that doesn't make them more efficient. Far better to lose the weight totally if you are snagged up. If you are fishing the rapids you don't have many alternatives but I think other weights work better on the slow deeper sections.
I use thin window leading tape which comes on a huge roll with an adhesive backing strip. I try to put lots of smaller strips on the weight rather than one 12" length. I think that if the weight hits a snag the small sections are more likely to come off and free the weight as against the single long strip.
I used ordinary salmon weights for fishing for smaller fish of the Camp beach and these rarely get snagged up. They are designed for trotting worms along the river bed and are very efficient.
What do you think?