The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on May 02, 2025 for Khandepar Investments Pvt Ltd
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Awaiting price reaction for this filing.
Promoter Khandepar Investments Pvt Ltd has created an additional pledge of 16,00,000 equity shares (0.896% of total share capital) of Ravindra Energy Ltd with JM Financial Products Ltd on April 30, 2025. The pledge is for a loan of Rs. 20 crore taken by Khandepar Investments for its own business activities, repayable in 1 year. Including this new pledge, total promoter encumbered shares stand at 1,50,00,000 equity shares, which is 14.33% of total promoter shareholding — well below the 50% threshold. Earlier pledges by promoter Narendra Murkumbi (90 lakh shares) and Khandepar Investments (44 lakh shares) were for funding the company's solar project subsidiaries.
This is an additional pledge creation, not an invocation or sale, so no immediate risk to shareholders. Promoters are pledging more shares to raise personal/holding-entity loans, which warrants watching as rising pledging levels can be a yellow flag if the share price falls sharply. Total encumbrance remains moderate at 14.33% of promoter holding.