The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 26, 2026 for Sreekanth Reddy Sammidi
SAGCEM · price
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Sreekanth Reddy Sammidi, part of the promoter group of Sagar Cements, has created a pledge on 19,00,000 shares (1.45% of total share capital) on 24 March 2026. The pledge is in favour of Catalyst Trusteeship Limited, acting as debenture trustee, to cover Rs. 200 crore of secured unrated unlisted redeemable non-convertible debentures (NCDs) issued by R V Consulting Services Private Limited, a promoter-group entity. This is the fifth encumbrance on promoter shares, bringing the total encumbered promoter holding to 80.80% of promoter shareholding and 39.67% of total share capital. Total promoter group holding stands at 48.33% of the company, just below the 50% mark. The NCD terms also restrict any change of control in Sagar Clements without trustee consent, or it triggers an event of default.
With over 80% of promoter shares already pledged and promoter holding below 50%, the high encumbrance level increases financial risk for the company. The change-of-control restriction tied to the NCDs could limit strategic flexibility for the promoter group. Shareholders should watch for any further pledge creation, invocation, or signs of financial stress in the promoter group.