The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 16, 2026 for Jaspalsingh ....
BALUFORGE · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.3 pts less than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Jaspalsingh Prehladsingh Chandock has pledged 8,75,000 equity shares (0.73% of total share capital) of Balu Forge Industries with Aditya Birla Capital Limited, an NBFC, on 7th March 2026. This is a fresh pledge — the promoter had no shares previously encumbered. Post-pledge, encumbered shares stand at 1.45% of his total promoter holding of 6,04,59,024 shares (50.52% of company). The loan amount is ₹14.82 crore against a share value of ₹40.08 crore, giving a comfortable 2.7x security cover. The end use of borrowed funds is stated as personal use by the promoter, not for company purposes.
The pledge is small relative to the promoter's overall stake and was created to raise personal funds, not company-related. No invocation or release involved, and the security cover is healthy at 2.7x. Minimal concern for shareholders — this is a routine disclosure of a modest personal loan arrangement.