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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Malani Ventures Private Limited, part of the promoter group of B-Right Realestate Ltd, has created a pledge on 24,00,000 shares (23.23% of total share capital) in favour of HDFC Bank Ltd on 30-09-2025. The pledged shares are valued at Rs. 77.64 crore against a loan amount of Rs. 30 crore drawn for the working capital needs of the listed company, with annual renewal. Post this event, encumbered shares stand at 32.2% of the promoter shareholding. This is a fresh pledge — no prior encumbrance existed on these shares for this promoter entity. Other promoter group entities like Blow Sales LLP and Cheerful Dealtrade LLP hold shares but have no encumbrance on them.
This is a routine working-capital pledge where the promoter is pledging shares to raise funds for the company's own use, not personal benefit. At 32.2% of promoter shareholding, it remains below the 50% threshold that typically raises higher governance concerns. Shareholders should watch for any future invocation or release of this pledge as a sign of stress.