The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on March ....
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Promoters of Super Tannery Limited — Iftikharul Amin, Sophia Amin, Iqbal Ahsan, and Ismat Iqbal — have pledged 3,22,48,406 equity shares (about 29.87% of total share capital) in favor of SBI Overseas Branch Kanpur (through trustee SBI CAP Securities). The encumbrance was created on February 27 and March 2, 2026, as collateral for a working capital limit of Rs. 101.80 crore from the bank. Promoters collectively hold 6,30,77,723 shares (58.42% of the company), and after this pledge, about 51.12% of their holding is encumbered. The shares are valued at Rs. 7.30 each, aggregating roughly Rs. 23.54 crore as security cover. The borrowed amount is meant for the company's business use, not for personal purposes.
Over half of promoter holdings are now pledged, which signals increased financial leverage and concentration risk for retail investors. If the company faces stress in servicing the Rs. 101.80 crore working capital facility, lenders could invoke the pledge and sell these shares, putting downward pressure on the stock.