The Exchange has received updates on Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on January 14, 2026 for Ramakrishna Kandula
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Promoter Ramakrishna Kandula, who holds 4,40,64,000 shares (22.09%) in the company, has pledged 37,21,804 equity shares (1.86% of total share capital, 3.08% of his promoter holding) on January 9, 2026. The pledge is split across three lenders: Tata Capital Limited (20,30,075 shares), SMFG India Credit Company Limited (12,68,797 shares), and Bajaj Finance Limited (4,22,932 shares). The total loan amount involved is Rs. 110 crore, against which the pledged shares are worth Rs. 51.88 crore (a coverage ratio of 0.47). The promoter stated the shares were pledged for personal borrowing, with an additional pledge created solely to cover a margin shortfall, meaning the promoter will not receive any funds from this additional pledge. The encumbered shares are well below the 50% promoter holding and 20% total share capital thresholds.
This is a modest pledge creation (only 3.08% of promoter holding) for personal borrowing, with the shares worth roughly half the loan amount, indicating a leveraged position. The disclosure is largely procedural; however, the margin shortfall pledge and low coverage ratio (0.47) may be a mild negative signal regarding the promoter's financial flexibility.