Promoter IGE extends pledge on Elpro shares; new encumbrances for Kotak 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

₹174.68

announcement price

In-mkt

timing

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.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

-0.5+0.6-1.1-0.0-0.4

Next day

+0.5+0.2+0.3-0.9+1.4

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+1.2-1.4+2.6-3.2+4.5

15d

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-1.0+2.0-3.0-8.5+7.5

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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

Promoter IGE (India) Pvt Ltd has extended its existing pledge over 8.64 crore Elpro shares (51% of share capital) in favour of Kotak Mahindra Bank for an additional rupee term loan of Rs 498 crore availed by Zenox Technology Services. No new shares were pledged. Separately, non-disposal undertakings and covenant-based encumbrances were created on other promoter group shares, pushing total encumbered promoter holding to about 75% of Elpro share capital. Loan proceeds are meant to part-finance acquisition of Elpro equity shares.

Likely market impact

High encumbrance on promoter shares (about 75%) signals leveraged acquisition financing. Risk rises if Elpro share price falls. No ownership change yet.