The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on February ....
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Promoter Veqarul Amin has created a pledge on 3,22,62,439 equity shares of Amin Tannery Ltd, representing 29.88% of the company's total share capital, in favour of SBI Overseas Branch Kanpur (through trustee SBICAP Company Ltd) on February 6, 2026. The pledged shares account for 50.84% of the promoter's total holding of 6,34,61,434 shares (58.77% stake in the company). The pledge is for an amount of Rs. 20 Crores, taken as collateral security for a working capital limit from the bank. This is a fresh creation of encumbrance, with no prior pledges reported by the promoter.
With over half of the promoter's stake now pledged as collateral, this raises concerns about promoter leverage and potential forced-selling risk if share prices decline or loan terms are breached. However, since the funds are for working capital purposes, it may signal business expansion needs rather than financial distress.