Disclosure under Reg 31 (4) of SEBI SAST Regulations 2011 by GTN Textiles Ltd being the main promoter of M/s Patspin India Ltd
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
GTN Textiles Ltd, the main promoter of Patspin India Ltd, has filed its annual disclosure of encumbered shares with BSE. The company holds 1,42,87,068 equity shares (46.21% of total share capital) in Patspin India Ltd. Of these, 72,86,405 shares (23.57% of Patspin's total share capital, or about 51% of GTN's own holding) were pledged on 17 July 2023 in favour of a Central Bank of India-led consortium (also including SBI and Karur Vysya Bank). The pledge was created as part of the Resolution Plan for Patspin India Ltd under the RBI's 2019 Prudential Framework for Resolution of Stressed Assets. No new encumbrance, release, or invocation has occurred — this is a routine year-end reconfirmation of an existing pledge.
This is a routine annual regulatory disclosure, not a new event, so no immediate share-price impact is expected. However, investors should note that over half of GTN Textiles' stake in Patspin India remains pledged to lenders, and GTN holds less than 50% in Patspin, signalling a stressed financial position at the associate level that could affect shareholders if the pledge is invoked.