The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shirdi Sai Electricals Ltd
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Shirdi Sai Electricals Ltd, part of the promoter group of Indo Tech Transformers Ltd, has created a pledge on 27,61,200 equity shares (about 26% of the company's total share capital) in favour of Catalyst Trusteeship Ltd, which is acting as debenture trustee for debenture holders of Shirdi Sai Electricals. The pledge was created on 21st November 2025 to secure debentures issued by Shirdi Sai Electricals Ltd. After this fresh pledge, the promoter group's encumbered shares have jumped from 33,91,036 (31.93% of capital) to 61,52,236 (57.93% of capital). The promoter group's overall holding in Indo Tech Transformers remains unchanged at 79,65,000 shares, which is 75% of the company. This disclosure was filed under SEBI Takeover Regulations to comply with rules on encumbrance of shares by promoter group entities.
Over 77% of the promoter group's stake in Indo Tech Transformers is now pledged, and more than half of the company's total share capital sits under pledge. This raises concerns about the financial health of the promoter entity and carries a risk that the pledged shares could be invoked by the lender, potentially affecting share price and minority shareholders. Signals: [pledge_above_50pct]