The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on July 14, 2025 for Dennis Reddy Thumma
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Awaiting price reaction for this filing.
Promoter Dennis Reddy Thumma filed a revised disclosure (originally dated 28 May 2025) under SEBI Takeover Regulations reporting the creation of a pledge on 2,50,000 shares of Magellanic Cloud Ltd, which equals just 0.042% of the company's total share capital. The pledge was created on 22 May 2025 in favour of ICICI Bank (ICICI Direct) as collateral for a loan. This is the first encumbrance on his holding, and his total promoter stake stands at 3,41,41,740 shares (5.84%). Other promoters Joseph Sudheer Reddy Thumma (39.62%), Jagan Mohan Reddy Thumma (8.04%), Inamma Thumma (4.72%) and Boyapati Inna Reddy (0.07%) have no encumbrance on their shares.
The pledged quantity is very small (0.042% of capital), so the direct financial impact on shareholders is negligible. However, investors should monitor whether this is the start of further pledging activity by the promoter, which could be an early warning sign of personal financial stress.