PAGAC Ecstasy pledges 52.57% Nuvama shares for upsized USD 450M loan

Promoter pledge above 50%Ownership Changes View source PDF Explain this filing

NUVAMA · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-2.9%Reaction day

₹1744.90

prior close

₹1740.00

announcement price

After-mkt

timing

Nifty Smallcap 250market-2.4%-0.4% vs market

Stockbroking & Allied peers, median of 39sector-2.2%-0.7% vs sector

On the reaction day the stock moved 0.4 pts less than Nifty Smallcap 250 and 0.7 pts less than its Stockbroking & Allied peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.2

10m

-1.6

15m

-1.7

30m

-1.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.9-2.4-0.4-2.2-0.7

Next day

-2.7-2.6-0.1-2.0-0.7

-3.3-1.8-1.5-1.9-1.3

-1.4-0.3-1.2-0.8-0.6

-3.4-0.3-3.0-1.0-2.4

-4.2-0.4-3.8-1.8-2.4

-3.2-1.0-2.2-1.2-2.0

15d

+5.0-2.3+7.3-0.8+5.8

-1.7-3.9+2.2-2.9+1.2

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UpDownMarket · Nifty Smallcap 250Sector · Stockbroking & Allied peers, median of 39Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

PAGAC Ecstasy, promoter of Nuvama Wealth, disclosed that its full 52.57% stake (9.69 crore shares, about INR 17,424 crore) is encumbered under Reg 31(1). Shares were already pledged since Dec 2024; this filing updates the underlying loan from USD 265M to USD 450M (extra USD 185M unutilized). Loan is for promoter's personal use. Security cover stands at 4.1 times. Encumbrance exceeds 50 percent of promoter holding.

Likely market impact

Full promoter stake is pledged for an overseas loan. A bigger loan against the same shares raises margin call and forced sale risk if stock falls.