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 ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Promoters Kush Sureshbhai Patel and Kashyap Sureshbhai Patel have pledged 20,33,898 equity shares (10,16,949 each), equal to 24.40% of the total share capital and 33.40% of promoter shareholding, in favour of NBFC Shree Kamdhenu Financial Services Pvt Ltd. The pledge was created on 19 March 2026 to secure a loan of ₹7 crore, with the underlying shares valued at roughly ₹13.02 crore, giving a security cover of 1.85x. The end use of the borrowed amount is partly personal use by promoters and partly for the listed company's acquisition of shares in another company operating in a similar business vertical. Total promoter shareholding in the company remains at 73.06% (60,91,800 shares), and this is the first encumbrance on these shares.
The pledge covers about a quarter of the company's share capital, which is significant but below the 50% promoter-share threshold that would warrant higher scrutiny. Shareholders should note the dual end-use of the loan and watch for any acquisition announcement by Rudra Gas in a similar vertical, as this could be a strategic move funded by pledging promoter shares.