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 February ....
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Promoter Shankar Varadharajan has created a fresh pledge of 3,00,00,000 equity shares (4.63% of total share capital) of Fischer Medical Ventures in favour of HDFC Bank on February 5, 2026. The pledged shares represent 43.48% of the promoter's individual holding in the company. The pledge has been created as collateral for a Rs 40 crore loan, with the underlying shares valued at Rs 109.59 crore, giving a healthy 2.74x security cover. The loan proceeds are intended to meet the working capital requirements of a wholly-owned subsidiary of the group. The promoter currently holds 6,90,01,530 shares, or 10.64% of the company's total share capital, and this is a new creation of pledge, not an invocation or release.
The promoter is leveraging his personal shareholding to fund working capital needs of a group subsidiary, which is a routine funding move but increases the proportion of pledged shares to 43.48% of his holding. With a strong 2.74x security cover, immediate risks appear limited, but shareholders should watch for any further pledging or margin-related concerns.