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 ....
SWANCORP · price
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Two promoter group entities of Swan Corp Limited — Swan Realtors Private Limited and Swan Engitech Works Private Limited — have pledged a combined 4.35 crore shares on 24th March 2026, representing 54.38% of their combined shareholding in the company. Swan Realtors pledged 3 crore shares (72.13% of its individual holding, 9.57% of total share capital) and Swan Engitech pledged 1.35 crore shares (35.15% of its holding, 4.31% of total share capital). The pledge is in favour of IDBI Trusteeship Services Limited acting as a security trustee, against a financial facility of Rs. 1,150 crores, with the pledged shares valued at Rs. 1,469.87 crores (a security cover of 1.28x). The end use of the borrowing is to secure a financial facility for a group entity, not for the listed company directly. Overall, the encumbrance is 13.88% of total promoter shareholding and below the 20% of total share capital threshold.
This is a fresh pledge creation by promoters to raise debt for a group entity, indicating increased leverage at the promoter level. While below the 20% total share capital threshold, the very high 72% pledge ratio at Swan Realtors is a concentration risk — any sharp share price decline could trigger margin calls or invocation, posing indirect risk for shareholders.