Announced Tue, 1 Sept · 10:24 IST

Promoter creates pledge on 25.5% stake for company NCD issue

Pledge Above 50pctPromoter Below 50pctOwnership Changes View source PDF Explain this filing

Price

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Price reaction · full curve 14 horizons · vs prior close

-5.8%1-day move

₹307.80

prior close

₹306.00

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AI summary

Promoter Jaydeep Vinod Mehta has pledged 38,30,323 shares (25.50% of capital) as security for the company's 105 crore 10% secured unlisted NCD issue. His total holding is 46,74,566 shares (31.13%), so about 82% of his stake is now encumbered, crossing the 50% promoter holding threshold. Pledge is in favor of Beacon Trusteeship Ltd for Lighthouse Canton Alternatives. NCD funds will be used for club expansion (25 crore), Aditya Birla Capital debt repayment (20 crore), SRA expenses (30 crore), general corporate purpose (25 crore), and transaction costs (5 crore).

Likely market impact

Over 80% of promoter stake is now pledged, raising concentration risk. Pledge supports company NCD funding for growth and debt reduction.