The Exchange has received the updates on Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 ....
CINELINE · price
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On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 1.1 pts more than its Film Production Distribution & Exhibition peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Himanshu Kanakia, trustee of Hiral Kanakia Trust (a promoter of Cineline India), has created a pledge on 28,00,000 equity shares (8.17% of total share capital) in favour of Vistra ITC (India) Limited on 24 February 2026. The promoter entity holds 30,68,800 shares (8.96% of the company), and with this pledge, roughly 91% of its individual shareholding is now encumbered. The pledged shares were valued at about Rs. 23.1 crore against a loan/encumbrance amount of Rs. 18 crore, giving a security cover of 1.29 times. The stated end-use of the borrowed money is purely personal use by the promoter, and neither Cineline India nor any of its group companies are involved in the transaction.
This is a negative signal for retail investors — nearly the entire holding of one promoter trust has been pledged for personal borrowing, raising concerns about financial leverage at the promoter level and potential forced-sale risk if the loan is not serviced. The pledge does not directly affect the company's operations, but the high pledge-to-holding ratio may weigh on sentiment and increase share-price volatility.