Submission of disclosure dated 08.04.2025 received from M/s. Saravana Global Holdings Limited, Promoter of Challani Capital Limited under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations, ....
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Challani Capital Limited has submitted to BSE a disclosure dated 08 April 2025 received from its promoter, Saravana Global Holdings Limited, under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations, 2011 regarding encumbrance of shares. The encumbrance is a pledge created on 19 December 2024 for the purpose of availing a loan. The pledged shares number 60,01,300, equivalent to 40.01% of the total share capital. The promoter group continues to hold 74.97% of the company post-event, with the pledged portion remaining at 40.01%. The disclosure was filed about 3.5 months after the actual event date.
Retail investors should note that the promoter has pledged 40.01% of the company's share capital as collateral for a loan. While this is below the 50% threshold that triggers heightened risk concerns, any significant pledged stake creates the risk of forced sale if loan covenants are breached, which could pressure the stock price.