Promoters encumber 63.93% of shares as security for Zenox loan

Pledge Above 50pctOwnership Changes View source PDF Explain this filing

INTLCONV · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.2%Reaction day

₹80.25

prior close

₹79.77

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-1.9% vs market

Industrial Products peers, median of 131sector+0.3%-1.5% vs sector

On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 1.5 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.0

10m

-0.0

15m

-0.5

30m

-0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.2+0.6-1.9+0.3-1.5

Next day

-3.0+0.2-3.2+0.1-3.1

-3.1-0.9-2.2-1.0-2.1

-1.6-0.3-1.3-1.5-0.1

-3.3+0.0-3.3-0.8-2.5

-4.7-1.1-3.5-1.4-3.2

-5.0-1.4-3.6-1.4-3.7

15d

-5.9+2.7-8.6-1.2-4.7

-1.2+3.6-4.8-3.0+1.7

-5.9+2.0-7.9-2.6-3.3

+2.2+1.1+1.1-2.1+4.2

UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 131Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Promoter group (IGE India, R.C.A, Amaranth Daksha, Dabriwalas) disclosed encumbrance creation on 4.08 crore shares (63.93% of total capital, 91.03% of promoter holding) on July 11, 2026. Security for a Rs 498 crore term loan from Kotak Mahindra Bank to group firm Zenox Technology Services. Loan proceeds will part-finance acquisition of shares of Elpro International Limited.

Likely market impact

Over 90% of promoter holding encumbered to back a Rs 498 crore group loan, raising leverage and default risk. Loan default could trigger invocation.