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 Laboratories Pvt Ltd
SMSPHARMA · price
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Potluri Laboratories Pvt Ltd, one of the promoters of SMS Pharmaceuticals, has created a Non-Disposal Undertaking (NDU) on 11,20,320 equity shares (1.32% of total share capital) on March 25, 2025. This is part of a broader promoter-group encumbrance event on the same date, where related promoter entities (Hima Bindu Potluri and Potluri Infra Projects LLP) also pledged/created NDU on additional shares, taking the total fresh encumbrance to roughly 1.15 crore shares (~13.5% of total share capital). The shares are pledged in favour of Vistra ITCL (India) Ltd as Debenture Trustee, with Avendus PE Investment Advisors as the lender, against Non-Convertible Debentures worth Rs.165 crore issued by Potluri Labs. The security cover is very thin at just 15% (Rs.25.5 crore of shares backing Rs.165 crore of debt). Total promoter holding remains at 64.67%, of which the disclosure states encumbrance now crosses the 50% of promoter holding and 20% of total share capital thresholds.
This is a promoter-level financing action using their own shareholding as collateral and does not change the promoter's ownership stake in SMS Pharma. However, with over 40-50% of promoter shares now encumbered and a very low 15% security cover, any financial stress at Potluri Labs could trigger invocation and forced sale of SMS Pharma shares, which is a material risk for minority shareholders to monitor.