The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 28, 2025 for Potluri Infra Projects LLP
SMSPHARMA · price
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Potluri Infra Projects LLP, a promoter group entity of SMS Pharmaceuticals, has created a Non-Disposal Undertaking (NDU) on 73,46,420 equity shares (8.68% of total share capital) on March 25, 2025. The encumbrance is in favor of Vistra ITCL (India) Limited as Debenture Trustee, with Avendus PE Investment Advisors Private Limited acting as the lender. These shares are pledged as security for Non-Convertible Debentures issued by another promoter entity, Potluri Laboratories Private Limited. Total promoter shareholding in SMS Pharma stands at 5,47,45,010 shares (64.67%), meaning this NDU covers roughly 13.4% of total promoter holdings. The encumbered shares are valued at approximately Rs. 167.24 crore (at Rs. 227.65 per share) against a debt amount of Rs. 165 crore, with proceeds intended for Potluri Labs' strategic business needs, working capital and general corporate purposes. On the same date, related promoter entities Hima Bindu Potluri and Potluri Laboratories also created similar NDUs on their SMS Pharma shares.
This is a new NDU creation (not a release or invocation) and is well below the 50% promoter shareholding or 20% total capital pledge thresholds. However, the broader promoter group is using SMS Pharma shares as collateral to raise debt at the level of a related entity (Potluri Labs), which is worth monitoring. No immediate change in beneficial ownership or control is implied.