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 ....
SAGCEM · price
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Promoter Sreekanth Reddy Sammidi has created a new pledge of 19,00,000 shares (1.45% of total share capital) of Sagar Cements on 24 March 2026. This pledge acts as additional security for secured unrated unlisted redeemable non-convertible debentures worth Rs. 200 crore issued by RV Consulting Services Private Limited, a promoter group company. The disclosure also reveals that 80.80% of the total promoter shareholding (63,168,186 shares, i.e., 48.33% of total share capital) is already encumbered, with a restriction on change of control of Sagar Cements without debenture trustee consent, which would trigger a default event. The encumbrance includes prior pledges to Pl Opportunities Fund and AvH Resources India.
This is a routine pledge creation by a promoter, not a stake sale, but investors should note that over 80% of promoter shares are already pledged, indicating significant leverage at the promoter level. The change-of-control restriction tied to the debenture terms could limit future flexibility for the promoter group in restructuring or selling their stake.