Promoters' revised pledge disclosure: 91 percent of promoter shares encumbered
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On the reaction day the stock moved 3.1 pts more than Nifty Microcap 250 and 3.5 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoters of International Conveyors filed a revised disclosure on share encumbrance. On July 11, 2026, encumbrance was created over 4.08 crore shares (63.93 percent of capital) as security for a Rs 498 crore term loan from Kotak Mahindra Bank to Zenox Technology Services. Post this, 91.03 percent of promoter holding (70.23 percent of total capital) is now encumbered, up from 50.69 percent earlier. Loan proceeds will part-finance acquisition of Elpro International shares.
Higher pledge on promoter shares raises margin call risk if stock falls; funds are being used for a related-party acquisition of Elpro International.