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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B-Right Realestate Ltd submitted a revised disclosure to BSE regarding a pledge creation by Malani Ventures Private Limited, a member of its Promoter Group. The promoter entity pledged 24,00,000 shares (23.23% of total share capital) in favour of HDFC Bank on 30 September 2025. The pledge was created to secure a Rs. 30 crore credit facility for the working capital needs of B-Right Realestate Ltd itself, with annual renewal. The revised filing fixes earlier discrepancies such as missing reasons for encumbrance and format errors. Existing promoter group encumbrance now stands at 74,54,480 shares, which is 72.16% of total share capital, indicating that most of the promoter shareholding is already pledged.
While the new pledge is for the company's own working capital (showing promoter support), the overall promoter pledging level of over 72% of total share capital is a significant risk factor for retail investors, as it leaves limited unencumbered promoter stock and could pressure the stock if invoked.