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 September ....
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Mrs. Rachna Suman Shaw, the promoter of Dhruva Capital Services Ltd, has pledged 5,40,000 equity shares (13.29% of total share capital) in favour of HDFC Bank Limited on 03rd–04th September 2025. The pledged shares represent 49.98% of her own promoter holding. The total promoter shareholding stands at 10,80,400 shares, or 26.60% of the company's total share capital. The encumbrance is just below the 50% threshold of promoter holding and below the 20% threshold of total share capital. The funds raised through this pledge are to be used for personal purposes of the promoter and persons acting in concert, and not for the benefit of the listed company.
Nearly half of the promoter's stake is now encumbered, which is a mild negative signal as it indicates the promoter is raising personal debt against her shares. However, the pledge remains below the 50% promoter-shareholding and 20% total-capital regulatory thresholds, so no major compliance red flag is triggered. Retail investors should watch for any further encumbrances or signs of pledge invocation.