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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Ravindra Energy Limited informed the exchanges that promoter Khandepar Investments Private Limited has created an additional pledge of 16,00,000 equity shares (0.896% of total share capital) on April 30, 2025, in favour of JM Financial Products Limited. The pledge is for a loan of Rs. 20 crores availed by Khandepar Investments for its business activities, to be repaid within 1 year. With this, total promoter-encumbered shares stand at 1,50,00,000, which is 14.33% of total promoter shareholding (58.61% of the company). This is the fourth encumbrance event, with prior pledges relating to Canara Bank term loans for subsidiary solar projects and earlier JM Financial loans.
The creation of an additional pledge increases the total pledged promoter shares but remains well below the 50% threshold (at 14.33%). The loan is for the promoter's own holding entity, not for company operations. Investors may view this as a sign of promoter leveraging for personal/business purposes rather than company funding, though the relatively modest size limits immediate concern.