Disclosure under Reg. 31(1) and 31 (2) of SEBI (SAST) Regulations, 2011
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Mr. Sudhir Balu Mehta, the promoter of Shraddha Prime Projects Ltd, has pledged 70,00,000 equity shares (17.33% of total share capital) in favour of HDFC Bank Limited. The pledge was created on 28 February 2026 as security for a loan availed by Shraddha Housing Projects LLP, in which Mr. Mehta is a designated partner. Mr. Mehta's total promoter holding stands at 3,02,10,548 shares (74.78% of the company), and prior to this event he had no shares encumbered. The disclosure has been filed under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations, 2011.
Mr. Mehta's ownership in the company does not change, but 17.33% of total share capital is now encumbered. If the related loan (taken by Shraddha Housing Projects LLP) defaults, these shares could be invoked by HDFC Bank, which is a risk factor shareholders should monitor.