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 November ....
CHOICEIN · price
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Awaiting price reaction for this filing.
Promoter Arun Kumar Poddar has pledged 6,00,000 shares (0.28% of total share capital, 3.70% of his personal holding) in favour of ICICI Bank on November 14, 2025. The pledged shares were valued at approximately Rs. 47.09 crore (based on BSE closing price on the event date) and are being used as collateral for credit facilities of Rs. 100 crore availed by M/s. Troo Tribe Tech Limited, a third-party entity — not for the benefit of Choice International Limited. The promoter holds 1.62 crore shares in total, representing 7.75% of the company's share capital. The pledge expires on November 12, 2026. The filing confirms the encumbrance is well below 50% of his promoter holding and below 20% of total share capital.
The pledge size is small relative to both the promoter's holding and the company's total capital, so direct shareholder impact is limited. However, the funds raised are for a third-party entity rather than the listed company, which retail investors may want to note as a governance signal.