The Exchange has received the revised Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 ....
AFCONS · price
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Awaiting price reaction for this filing.
Promoter Shapoorji Pallonji and Company Pvt Ltd (SPCPL) filed a revised disclosure on 10 March 2026 to add the lender name to its earlier pledge disclosure made on 17 February 2026. The disclosure covers two pledge creations: 4,44,46,470 shares (12.08%) pledged with SBICAP Trustee Company on 25 June 2025, and 1,22,34,940 shares (3.33%) pledged with Catalyst Trusteeship Ltd on 16 February 2026. Together, the entire promoter holding of 5,66,81,410 shares (15.41% of total share capital) is encumbered, meaning 78.41% of SPCPL's shareholding in Afcons is pledged. The pledged shares back working capital facilities, including one from a State Bank of India-led consortium and another from JM Financial Credit Solutions.
This is a corrective filing and does not represent new pledging activity, but it highlights that nearly 78% of the promoter's stake is pledged, which is a high level of encumbrance and could raise concern among retail investors about financial stress at the promoter level.