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 October ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
B-Right Realestate Ltd's promoter group entity, Malani Ventures Private Limited, has created a pledge on 24 lakh equity shares (23.23% of total share capital, worth Rs. 77.64 crore) in favour of HDFC Bank on September 30, 2025. The encumbered shares represent 32.2% of the promoter's own shareholding in the company. The loan amount of Rs. 30 crore has been raised for the working capital needs of B-Right Realestate Limited itself, and is to be renewed annually. The filing confirms the pledge is not linked to any debt instrument and is with a scheduled commercial bank.
Since the borrowed funds are for the listed company's own working capital, the pledging is for operational benefit rather than personal promoter use, which is mildly positive. However, a large portion of promoter holdings is now encumbered, which increases the risk of forced selling if share prices fall materially or loan covenants are breached.