Announced Sat, 20 Jun · 10:17 IST
Promoters encumber 50.69% of International Conveyors shares for debentures
INTLCONV · price
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Price reaction · full curve 14 horizons · vs prior close
-2.3%1-day move
₹83.60
prior close
₹84.28
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.9-0.7-0.5-1.2-2.3-1.0-2.4-3.5-5.2-5.9-4.0-8.5——
Up moveDown movePending
AI summary
Promoters IGE India, R.C.A Ltd, and Amaranth Daksha encumbered 3.23 crore shares (50.69% of capital, 72.28% of their holding) of International Conveyors as collateral for about INR 420 Cr of debentures. Shares valued at INR 263.75 Cr give a 0.63x cover. Funds will repay promoter group debt and finance the acquisition and delisting of Elpro.
Likely market impact
72% of promoter shares encumbered for group borrowing. Cover at 0.63x means shares back more debt than their value, a risk if stock falls.