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 February ....
CINELINE · price
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Awaiting price reaction for this filing.
Rasesh Kanakia, as trustee of the promoter Rupal Kanakia Trust, has created a pledge over 28,00,000 equity shares of Cineline India (8.17% of total share capital) in favour of Vistra ITC (India) Limited. The promoter group's total holding is 30,68,800 shares (8.96%), meaning roughly 91% of the entire promoter stake is now pledged. The pledged shares were valued at about ₹23.11 crore against a borrowing of ₹18 crore, giving a coverage ratio of 1.28. The reason stated is personal use by the promoter; no listed entity or group company is involved. The pledge was created on 24 February 2026 and disclosed to the exchanges on 25 February 2026.
Almost the entire promoter shareholding is now encumbered, which is a negative signal for retail investors — it raises the risk of a forced sale or invocation if the promoter cannot service the personal loan. The encumbered shares are under 20% of total share capital so no SEBI-level threshold trigger applies, but the concentration of pledging is high and worth monitoring.