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 April ....
VIRINCHI · price
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Promoter entity P.K.I. Solutions Private Limited has pledged 4,00,000 equity shares (0.39% of total share capital) of Virinchi Ltd with Luharuka Media and Infra Ltd (an NBFC) on March 29, 2025. The reason given is to cover a shortfall in security coverage for an existing facility. After this pledge, total encumbered promoter shares stand at 36,00,000 (3.51% of share capital), which is just 1.04% of total promoter shareholding of 37.51%. The loan amount is Rs. 2.5 crore, while the value of pledged shares is only about Rs. 83.32 lakh, giving a poor security cover ratio of 0.33x. The borrowed money is to be used for personal purposes of promoters and PACs.
The pledge size is small relative to promoter holdings, but the low security cover ratio (0.33x) and use of funds for personal promoter purposes may raise concerns about promoter financial health. No immediate threat to promoter control, as encumbered shares are well below 20% of total share capital and promoter holding remains a substantial 37.51%.