The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on May ....
JPPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Adani Power Limited, which became the new promoter of Jaiprakash Power Ventures Limited after acquiring a 24% stake through a NCLT-approved resolution plan for Jaiprakash Associates Limited (March 2026), has disclosed creation of encumbrances over shares. A pledge was created on 1,20,05,09,431 equity shares (17.517% of total share capital) in favor of IDBI Trusteeship Services Limited to secure loans of approximately Rs 15,123 crores. Additionally, a non-disposal undertaking was created on 10,21,88,566 equity shares (1.49% of total share capital) for loans of Rs 1,700 crores. These encumbrances represent 19.01% of the promoter's total holding of 1,64,48,30,118 shares. The pledge continues from the original structure set up by erstwhile promoter JAL for the benefit of company lenders.
The encumbrances are below the 50% threshold of promoter holding, so no automatic regulatory concern. The significant pledge level (17.5%+ of total capital) does indicate leverage being maintained as part of the debt restructuring, which shareholders should monitor for potential impact on voting rights or future stake changes.