The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on July 14, 2025 for Pristine Malwa ....
SICALLOG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Promoter Pristine Malwa Logistics Park Private Limited, which holds 5.87 crore shares (90%) of Sical Logistics, has submitted a revised SAST disclosure correcting an earlier filing to now properly name both the lender and security trustee. The disclosure relates to an encumbrance created on June 17, 2025, in favour of Aditya Birla Capital Limited (lender) through Catalyst Trusteeship Limited (security trustee). A total of 3.33 crore shares (51% of Sical's total share capital) have been encumbered, including a pledge on 3.28 crore equity shares, against an underlying amount of ₹250 crore with a security cover of 1.41x. The encumbrance is linked to a HoldCo Undertaking cum Subordination Deed and an Unattested Securities Pledge Agreement, and is not for the listed company's direct benefit or personal use by promoters.
With over half of the promoter's 90% stake now encumbered, this significantly increases the risk of a forced pledge invocation, which could lead to a change in control or large-scale share sale by the lender. Shareholders should watch closely for any margin call triggers, as any dip in the share price could pressure the 1.25x minimum cover requirement and heighten overhang on the stock.