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 March ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promoter Vishnuvardhan has created a fresh pledge of 13,19,748 shares (10.53% of total share capital) on March 02, 2026 in favour of SBICAP Trustee Company Limited. This is on top of an earlier small pledge of 11,810 shares (0.90%) created on February 17, 2026. The shares have been pledged as security against a Rs. 19 crore term loan availed by the wholly owned subsidiary Constronics Energy Solution Private Limited from the State Bank of India. With this, 100% of the promoter's entire holding of 13,31,558 shares (10.38% of total share capital) is now encumbered. The value of shares pledged is roughly Rs. 6.33 crore against the Rs. 19 crore loan, giving a security cover ratio of 0.33x.
Negative signal: 100% of the promoter's stake is now pledged, raising concerns about financial leverage and possible distress. However, the loan is for a subsidiary's business purpose, not personal use, which slightly softens the concern. With promoter holding only 10.38%, the stock could see pressure if the loan is recalled and the pledge is invoked.