The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on January 02, 2026 for S2 Engineering Services ....
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Promoter entity S2 Engineering Services (partners Kandula Ramakrishna and Kandula Krishna Veni) has pledged 1,14,57,143 equity shares (5.74% of total share capital) of Standard Engineering Technology Ltd on December 31, 2025. The pledge is in favour of two lenders: 53,57,143 shares to SMFG India Credit Co Ltd and 61,00,000 shares to Tata Capital Limited, against total borrowings of Rs. 72.70 crore (Rs. 30 crore from SMFG and Rs. 42.70 crore from Tata Capital). Promoter total holding stands at 1,88,26,000 shares (9.44% of total share capital), so this pledge alone covers roughly 61% of their holding. The borrowed amount is to be used for personal purposes, with no funds flowing to the listed company.
This is a negative signal for shareholders — promoters are pledging a large chunk of their stake (over 60% of their holding) to raise personal loans, which increases the risk of forced sale if the promoters default on repayments. The borrowings are not for the company's benefit, raising governance concerns.