Announced Sat, 20 Jun · 10:11 IST
Promoters encumber 50.69% of Intl Conveyors shares as debenture collateral
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
Promoter entities IGE India, R.C.A Ltd and Amaranth Daksha encumbered 3.23 crore shares (50.69% of capital, 72.28% of promoter holding) as non-disposal undertaking with CTL Trusteeship. This backs debentures worth Rs 420 crore (Rs 120 cr by IGE, Rs 300 cr by subsidiary Zenox Tech). Shares valued at Rs 263.75 crore against Rs 420 cr debt. Funds will repay promoter group debt and finance Elpro International acquisition and delisting.
Likely market impact
Over half of promoter shares now encumbered. Risk of invocation if covenants are breached. Funds partly for Elpro delisting.