Disclosure under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
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Promoter Sudhir Balu Mehta has pledged 70,00,000 equity shares (17.33% of total share capital) of Shraddha Prime Projects Ltd in favour of HDFC Bank Limited. The pledge serves as security for a loan availed by Shraddha Housing Projects LLP, where the promoter is a designated partner. Prior to this event, the promoter had no encumbered shares, and post-pledge, his encumbered holding stands at 57.45% of total share capital. Total promoter holding remains at 74.78% (3,02,10,548 shares) of the company.
Over half of the promoter's shareholding is now pledged, which is a notable risk factor for retail investors as it raises the possibility of forced share sale if the loan obligations are not met. The pledge is for an associate entity rather than the listed company itself, so there is no direct capital impact on Shraddha Prime Projects Ltd.