Promoter creates first ranking exclusive pledge over 20,00,00,000 equity shares (4.32%)

Promoter Bhavish Aggarwal created a first ranking exclusive pledge over 20,00,00,000 equity shares of the company.

Tue 6 Oct 2026

Shares Pledged

20,00,00,000 equity shares

Pledged as % of Share Capital

4.32% of the company's share capital and 4.32% of his total shareholding

Promoter Total Holding

1,22,74,99,575 shares (26.32%); holding encumbered before this event: Nil

A promoter of the company has created an encumbrance on a block of his shares. Here is what the disclosure says, in simple terms.

What the update states

Mr. Bhavish Aggarwal, described as Promoter, has created a first ranking exclusive pledge over 20,00,00,000 (Twenty Crore) equity shares of the company. The update states these shares aggregate to 4.32% of the share capital of the company, and that the pledged shares also constitute 4.32% of his total shareholding in the company.

The pledge has been created under an unattested share pledge agreement dated September 25, 2026. The date of creation of the encumbrance is given as 30.09.2026.

What the pledge secures

The pledged shares are held as security for certain non-convertible debentures issued, or to be issued, by Krutrim Data Centre Private Limited, described in the update as the Issuer.

The pledge is in favour of CTL Trusteeship Limited, acting on behalf of and for the benefit of Avendus Finance Private Limited, InCred Special Opportunities Fund I and/or each of their transferee(s), from time to time.

The numbers to note

• Shares pledged: 20,00,00,000
• Pledged shares as a share of the company's share capital: 4.32%
• Pledged shares as a share of the promoter's total shareholding: 4.32%
• Promoter's total holding in the company: 1,22,74,99,575 shares, or 26.32% of the share capital
• Promoter shares already encumbered before this event: Nil

What a pledge means

A pledge is when shares are offered as security against a borrowing or a debt instrument. The shares continue to be held by the promoter, but the lender gets a right over them. If the borrower does not repay as agreed, the lender can sell those shares to recover its dues. That is why a promoter pledge is followed closely, since it links part of the promoter's stake to a financing arrangement.

How this reads

This is a disclosure of the creation of an encumbrance over promoter shares, made under Regulation 31(1) read with Regulation 28(3) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The consumer of this information gets the exact size of the encumbrance, the identity of the trustee and the beneficiaries, and the instrument it secures.

Points to track from here

• Whether the number of encumbered promoter shares changes in later disclosures
• The progress of the non-convertible debentures that these shares secure

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