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 March ....
BALUFORGE · price
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Promoter Jaspalsingh Prehladsingh Chandock has created a pledge over 8,75,000 equity shares (0.73% of total share capital) of Balu Forge Industries in favour of Aditya Birla Capital Limited (an NBFC) on 7 March 2026. The pledged shares represent 1.45% of the promoter's total holding of 6,04,59,024 shares (50.52% of share capital). The loan amount involved is about ₹14.82 crore against a share value of about ₹40.08 crore, giving a comfortable security cover of 2.7 times. The stated end use of the borrowed money is personal use by the promoter, not for the company. The promoter has confirmed that encumbered shares are neither 50% or more of his holding nor 20% or more of total share capital.
This is a routine disclosure of a small pledge creation by a single promoter for personal borrowing. Since the pledged quantity is just 1.45% of his holding and less than 1% of total share capital, it is unlikely to materially affect share price or promoter control. Investors should keep an eye on any future increase in pledged shares or any invocation.