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
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sreekanth Reddy Sammidi, part of the promoter group of Sagar Cements, has disclosed a pledge creation of 19,00,000 equity shares (1.45% of total share capital) in the company on March 24, 2026. The pledge is in favour of Catalyst Trusteeship Limited, acting as debenture trustee, to secure Rs. 200 crore of unrated, unlisted, redeemable Non-Convertible Debentures (NCDs) being raised by RV Consulting Services Private Limited, a promoter group company. The Debenture Trust Deed also imposes a restriction on any change of control of Sagar Cements without trustee consent, failing which it would trigger an event of default. With this pledge, the encumbered promoter shareholding stands at 80.80% of total promoter holding, which itself is 48.33% of the company's total share capital.
Promoter pledging has intensified, with over 80% of promoter shares now encumbered against group-level borrowings, raising concentration and governance concerns for shareholders. The change-of-control restriction tied to the NCDs could limit flexibility for any future restructuring, M&A, or large stake changes in Sagar Cements.