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 March ....
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Promoter entity Khandepar Investments Private Limited has created a pledge on 44,00,000 equity shares (2.46% of total share capital) of Ravindra Energy Ltd, as disclosed on March 31, 2025. The pledge was created on March 27, 2025 in favour of JM Financial Products Limited (an NBFC) to secure a loan of Rs. 20 crore taken by Khandepar Investments for its own business activities. The loan is a loan-against-shares facility to be repaid within 1 year. This is the third encumbrance event for the promoter group; earlier pledges by individual promoter Mr. Narendra Murkumbi (90 lakh shares) were created for Rs. 166 crore loans taken by subsidiaries for solar power projects. Total promoter holding stands at 58.61%, with all encumbered shares together representing only 7.50% of promoter shareholding.
This is a routine pledge-creation disclosure where the promoter has used a small portion of its shares as collateral for a personal business loan. Since the pledge level remains low (7.50% of promoter holding, far below the 50% threshold) and is a loan-against-shares facility, it poses limited immediate risk to shareholders. However, investors should monitor for any future invocation or accumulation of pledges, which could signal financial stress.