Promoters pledge entire holding: 77,30,100 shares, 44.79% of capital, in favour of Share India Securities

Promoters of Race Eco Chain have created a pledge on their entire holding — 77,30,100 equity shares, equal to 44.79% of the total share capital.

Mon 5 Oct 2026

Shares Pledged

77,30,100 equity shares

Pledge as % of Total Share Capital

44.79%

Pledge as % of Promoter Shareholding

100% of the total promoter shareholding

Pledge Created / Reported Dates

Created 08/09/2026, reported 01/10/2026

Pledge in Favour Of

Share India Securities Limited

The promoters of Race Eco Chain Limited have disclosed the creation of a pledge over their entire shareholding in the company, in a update made to BSE and NSE under Regulation 31(1) read with Regulation 31(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

What was pledged

• The promoters have pledged 77,30,100 equity shares of the company.
• This works out to 100% of the total promoter shareholding and 44.79% of the total share capital of the company.
• The pledge was created on 08/09/2026 and reported to the exchanges on 01/10/2026.

Who pledged what

• Dinesh Pareekh: 7,00,000 equity shares, representing 4.06% of the total share capital.
• Sangeeta Pareekh: 43,20,000 equity shares, representing 25.03% of the total share capital.
• BLP Equity Research Pvt Ltd: 27,10,100 equity shares, representing 15.70% of the total share capital.
• Taken together, the promoter holding is 44.79% of the total share capital, and the update states that all of it has been encumbered.

In whose favour and why

• The shares are pledged in favour of Share India Securities Limited.
• The reason stated for the encumbrance is personal purpose.
• The update states the borrowed amount is to be used for personal use by promoters and PACs, and not for the benefit of the listed company.
• The update also states that the entity in whose favour the shares are pledged is not a scheduled commercial bank, public financial institution, NBFC or housing finance company.
• The encumbrance is stated not to relate to any debt instruments such as debentures, commercial paper or certificates of deposit.

The money numbers

• Value of the encumbered shares on the date of the event: Rs. 75,36,84,750, worked out as 77,30,100 shares at Rs. 97.50 each.
• Amount involved, against which the shares have been encumbered: Rs. 59,16,42,528.75.
• The update also notes the encumbered shares represent 20% or more of the total share capital (44.79%) and 50% or more of the promoter shareholding (100%).

What an encumbrance means

• A pledge is a form of encumbrance. The shares continue to be owned by the promoter, but they are placed as security with the entity named in the update.
• If the obligation for which the shares are pledged is not met, the entity holding the pledge can enforce it, and the shares may change hands.
• Because the entire promoter holding is now shown as encumbered, there is no unencumbered promoter stake outside this arrangement.

How to read this disclosure

• This is a disclosure of the reason for encumbrance, giving the details of who pledged, how many shares, in whose favour and for what stated purpose.
• The update sets out the purpose as personal, and gives the value of the shares and the amount involved so that investors can see the size of the encumbrance relative to the company's share capital.
• The facts above relate only to the encumbrance of promoter shares; the update itself does not deal with the company's business or financial performance.

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