Disclosure under Regulation 31(1) of SEBI (SAST) Regulation, 2011 regarding pledging of shares held by the promoter of the company
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Constronics Infra Ltd has informed the stock exchange that its promoter, Mr. Vishnuvardhan, has created a pledge on 13,31,558 equity shares, which represents 100% of his entire holding in the company (10.38% of total share capital). The pledge was created on March 02, 2026 in favour of SBICAP Trustee Company Limited as security against a term loan of Rs. 19 crores. This loan has been availed by the company's wholly owned subsidiary, M/s. Constronics Energy Solution Private Limited, from the State Bank of India. An earlier small pledge of 11,810 shares (0.09%) was also created on February 17, 2026. The value of shares pledged on March 02 stood at approximately Rs. 6.33 crore against the Rs. 19 crore loan, giving an asset cover ratio of 0.33.
The entire promoter shareholding is now pledged as collateral for subsidiary-level borrowing, which is a significant concentration risk. If the subsidiary defaults on the Rs. 19 crore loan, the promoter could lose his entire stake in the company. The low asset cover ratio (0.33) means the pledged shares are worth much less than the loan amount, raising concerns about the promoter's financial position.