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 ....
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Promoter Sunil Purushottanm Agarwal has created a pledge over 50,00,000 shares (0.55% of total share capital) in favour of Motilal Oswal Financial Services Limited. The pledge was created in multiple tranches between 14 May 2026 and 21 May 2026. The total value of pledged shares is approximately Rs 24.13 crore against a loan of Rs 14.60 crore, providing a security cover of 1.62–1.67x. Sunil Agarwal's total holding stands at 11,06,92,800 shares (12.17% of capital), of which 4.52% is now encumbered. The company states the pledge is solely for availing a margin trading facility and involves no transfer of ownership or control. The combined promoter group holds approximately 44% of the company.
The encumbered shares represent only 4.52% of the promoter's holding, well below the 50% threshold that would trigger additional SEBI obligations. The pledge for margin trading is routine and, with adequate collateral cover, poses minimal direct risk to minority shareholders.