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 Viswanath Kompella has pledged 5,00,000 equity shares (0.49% of total share capital) of Virinchi Limited with Badjate Stock Broking Pvt Ltd on April 15, 2025. The reason cited is to cover a shortfall in security coverage for a loan of Rs. 5 crore meant for personal use by the promoter. After this pledge, the promoter's total encumbered shares stand at 1,12,72,679 (10.98% of total share capital), which is 29.28% of his overall promoter shareholding of 37.51%. The pledge is with a stock broking entity (not a bank or NBFC), and the value of pledged shares (Rs. 1.08 crore) provides a security cover ratio of just 0.07 against the loan amount.
This is a relatively small incremental pledge (0.49% of capital) and the overall encumbered portion remains well below the 50% promoter holding or 20% total capital thresholds, so no immediate red flags. However, the loan is for personal use and the security cover ratio is very thin (7%), which could raise concerns if share prices fall — potentially leading to invocation and forced selling pressure on the stock.