The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 10, 2026 for Harjeet Singh Arora
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Master Trust Ltd promoter Harjeet Singh Arora, along with co-promoter Rajinder Kumar Singhania, has created a pledge on 40 lakh equity shares (3.25% of total share capital) in favour of ICICI Bank Limited. Of this, Harjeet Singh Arora pledged 20 lakh shares and Rajinder Kumar Singhania pledged 20 lakh shares on February 16, 2026. The pledge was created as collateral for loans to be availed by the company's wholly owned subsidiary, Master Capital Services Limited. After this pledge, Harjeet Singh Arora has 50 lakh shares (4.06%) encumbered out of his 1.59 crore shareholding, while Rajinder Kumar Singhania has 50 lakh shares (4.06%) encumbered out of his 2.87 crore shareholding. Total promoter group holding stands at 8.85 crore shares (71.93%), with aggregate pledged shares at 1 crore (8.13%).
This is a routine disclosure about promoters pledging their shares as collateral for subsidiary-level borrowing. It does not change promoter ownership or indicate any selling. Investors should note that promoter encumbrance has risen but remains low at 8.13% of total share capital, suggesting manageable leverage and no immediate concern of forced selling.