Promoters pledge entire holding; 77,30,100 shares, 44.79% of capital, encumbered

Promoters of the company have created a pledge on all their holding — 77,30,100 equity shares, or 44.79% of total share capital.

Mon 5 Oct 2026

Shares Pledged

77,30,100 equity shares, or 44.79% of total share capital

Promoter Holding Encumbered

100% of total promoter shareholding is encumbered

Pledge Dates

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

Pledgee

In favour of Share India Securities Limited

Value of Shares Encumbered

Rs. 75,36,84,750

▸ What has been disclosed

Dinesh Pareekh, along with promoters Sangeeta Pareekh and BLP Equity Research Pvt Ltd, has disclosed the creation of a pledge on all promoter holding of 77,30,100 equity shares of the company. This equals 44.79% of the company's total share capital. The pledge was created on 08/09/2026 and reported to the stock exchanges on 01/10/2026 under Regulation 31(1) read with Regulation 31(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

▸ Who pledged how much

• Dinesh Pareekh: 7,00,000 equity shares, or 4.06% of total share capital
• Sangeeta Pareekh: 43,20,000 equity shares, or 25.03% of total share capital
• BLP Equity Research Pvt Ltd: 27,10,100 equity shares, or 15.70% of total share capital
• Combined promoter holding: 44.79% of total share capital, of which 100% is encumbered
• Before this event, promoter holding already encumbered was Nil

▸ The money side of the pledge

• Value of the shares encumbered on the date of the event: Rs. 75,36,84,750, worked out as 77,30,100 shares × Rs. 97.50
• Amount involved against which the shares have been encumbered: Rs. 59,16,42,528.75, which is 78.50% of that value
• Ratio of share value to amount involved: 1:0.785
• The entity in whose favour the shares are encumbered: Share India Securities Limited
• The encumbrance is not related to any debt instrument such as debentures, commercial paper or certificate of deposit
• Reason for the encumbrance: personal purpose. Under end use, personal use by promoters and PACs is marked Yes, and use for the benefit of the listed company is marked No

▸ How a retail investor can read this

A pledge means the shares are placed as security with the entity named in the update. The shares continue to be held by the promoter, but the lender gets a right over them if the terms of the arrangement are not met.

What stands out is the size: the entire promoter holding, 44.79% of total share capital, is now encumbered, and the encumbered shares are 100% of total promoter shareholding. The update also confirms that the encumbered shares are 20% or more of total share capital, and 50% or more of promoter shareholding.

Encumbrances are disclosed precisely because they can affect who holds the shares later. If a pledge is invoked, the ownership of those shares can move to the entity in whose favour they are pledged, which can change the promoter's stake in the company. The update states the shares are pledged in favour of Share India Securities Limited and that the reason is personal purpose.

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