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 ....
SHRIRAMFIN · price
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Shriram Value Services Limited, a promoter entity of Shriram Finance Ltd, has filed a revised encumbrance disclosure (Annexure II) under Regulation 31(1) of SEBI SAST Regulations, 2011. The filing reveals that the entire promoter shareholding of 47,76,30,880 shares (20.30% of total capital) is subject to encumbrance. Specifically, 13,37,57,305 shares (5.69% of total capital) are encumbered under a shareholders' agreement involving MUFG Bank Ltd., Shriram Capital, Shriram Ownership Trust, Shriwell Trust, Sanlam Life Insurance, and Sanlam Emerging Markets. The encumbrance includes a 3-year lock-in from April 8, 2026, restricting share transfers, with restrictions ceasing if MUFG Bank's holding falls below 10% on a fully diluted basis.
With 100% of the promoter's (Shriram Value Services) shares under encumbrance, this signals a significant lock-in on a key promoter holding, which could limit future flexibility in share transfers and may concern investors about potential stress on promoter finances.