Promoter pledges 14.99% stake covering 100% of holdings to back 200 Crore loan
AEQUS · price
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On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 1.1 pts more than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Melligeri Private Family Foundation has pledged 10,05,13,070 shares (14.99 percent of Aequs total share capital) to NBFC 360 One Prime as security for a 200 Crore INR finance facility. This equals 100 percent of this individual promoter's holding and crosses the 50 percent threshold of promoter shareholding. Stated purpose is personal investments by promoters. Pledged shares are worth about 2,301 Crores, giving 11.5 times asset cover on the loan.
All of this promoter's stake is encumbered for personal borrowing. Watch for pledge invocation risk if the loan defaults or shares fall sharply.