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 April ....
CINELINE · price
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Mrs. Rupal Rasesh Kanakia, a member of the promoter group of Cineline India, has created a pledge on 3,50,000 equity shares (about 1.02% of total share capital) on 20th March 2025. These shares were pledged in favour of Sunil Bhagwatlal Dalal for personal use by the promoters, with a borrowed amount of Rs. 25 crores against a security value of Rs. 2.76 crore (asset cover ratio of 0.11). Mrs. Kanakia personally holds 24,28,844 shares (7.09% of the company), and after this pledge, her encumbered shares stand at 20,25,000 shares (5.91% of total share capital). The encumbered shares now represent roughly 70% of total promoter shareholding in the company.
This is a creation of a new pledge rather than a release or invocation, meaning the promoter is raising personal funds by pledging more shares. Since encumbered shares are already over 50% of total promoter shareholding, this raises the financial risk for shareholders — any margin call or invocation could lead to forced selling and pressure on the stock price.