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 May ....
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Promoter Anand Rathi Financial Services Limited disclosed encumbrance on 24,00,000 shares (3.83% of total share capital), representing 5.47% of its promoter shareholding. The shares were previously pledged with Orbis Financial Corporation Limited and have now been re-pledged with Yes Bank Limited (a scheduled commercial bank) for availing margin limits. The value of encumbered shares is Rs. 141.42 crore against a loan amount of Rs. 121.62 crore, providing a security cover ratio of 1.16. The encumbrance does not exceed 50% of promoter holding nor 20% of total share capital, indicating no threshold breach.
This is a routine custodian shift of existing pledge from Orbis to Yes Bank with no material change in encumbrance levels. The promoter continues to hold a comfortable 69.90% stake with no immediate dilution concern for shareholders.