The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on July 11, 2025 for Jagan Mohan Reddy Thumma
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Magellanic Cloud Ltd promoter Jagan Mohan Reddy Thumma has filed a revised disclosure under SEBI SAST Regulations regarding the creation of a pledge on his shares. The pledge of 42,85,000 shares (0.73% of total share capital) was created on June 11, 2025 as collateral for loans, with Badjate Stock Broking Private Limited as the pledgee. Post-event, the promoter's encumbered shares stand at 1,11,90,000 (1.91% of total share capital) out of his total holding of 4,70,00,000 shares (8.04%). The revised disclosure corrects the original filing dated June 13, 2025. Other promoters such as Joseph Sudheer Reddy Thumma (39.62%) and Dennis Reddy Thumma (5.84%) had no new encumbrance events.
This is a routine pledge creation by a single promoter using his shares as loan collateral. The pledged amount is small relative to the company's total capital, so the direct impact on share price is limited. Investors should monitor whether the loan is serviced on time to avoid risk of pledge invocation later.