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 ....
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Malani Ventures Private Limited, part of the promoter group of B-Right Realestate Ltd, has submitted a revised disclosure to BSE regarding the creation of a pledge on 24 lakh shares (23.23% of total share capital). The pledge, created on 30 September 2025, is in favour of HDFC Bank against a loan of about Rs. 30 crore, to be used as working capital for B-Right Realestate Ltd. The promoter group holds 72.16% of the company, of which 32.2% is now encumbered. The original filing had discrepancies in format and missing reasons for encumbrance, which have now been rectified in this revised submission.
The pledge covers nearly a quarter of the company's share capital and about a third of the promoter stake, which is a sizeable encumbrance but below the 50% trigger level. Shareholders should note that any stress in servicing the Rs. 30 crore loan could put these pledged shares at risk of invocation, though the stated purpose is routine working capital for the listed company.