The Exchange has received the revised Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 ....
SAGCEM · price
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On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 1.0 pts more than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sagar Cements promoter group members — Sreekanth Reddy Sammidi and RV Consulting Services Private Limited — have filed a revised disclosure regarding pledge of their shares. The new pledge covers 85 lakh shares (6.50% of total share capital) created on 31 December 2024 as security for Rs.170 crore unrated unlisted redeemable non-convertible debentures (NCDs) issued by RV Consulting Services Private Limited. Total promoter shareholding in the company is 6.31 crore shares (48.31% of capital), of which 79.89% is now encumbered — well above the 50% threshold. An additional encumbrance of 4.75 crore shares (36.35%) was extended to AvH Resources India under a shareholders' agreement dated 29 January 2024. End use of the Rs.170 crore is stated as personal use by promoters and PACs.
This is a negative signal for shareholders: nearly 80% of promoter holdings are pledged, promoter stake is already below 50% (48.31%), and the new pledge is for personal borrowings outside the listed company. High pledging levels raise concerns about financial stress at the promoter level and potential forced selling risk if covenants are breached.