Promoter extends pledge on 51% Elpro shares for Kotak Mahindra loan

Pledge Above 50pctOwnership Changes View source PDF Explain this filing

ELPROINTL · price

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Price reactionminutes from the announcement price · days from the prior close

-0.5%Reaction day

₹174.33

prior close

₹174.42

announcement price

In-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-1.1% vs market

Residential Commercial Projects peers, median of 66sector-0.0%-0.4% vs sector

On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250 and 0.4 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Residential Commercial Projects peers, median of 66Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

IGE (India), holding 75% in Elpro International, extended existing pledge on 8.64 crore shares (51% of capital) as security for an additional Rs 498 crore loan from Kotak Mahindra Bank to Zenox Technology Services. No fresh shares pledged. Also added non-disposal undertaking on 1.67 crore shares (9.88%) and other encumbrances covering 75% of promoter shares. Loan proceeds to part-finance acquisition of Elpro equity shares.

Likely market impact

Pledge covers 51% of capital and other encumbrances reach 75% of promoter holding - signals leveraged acquisition financing with reduced share flexibility.