Promoters create pledge on 1,00,000 and 7,57,000 equity shares as security for the company's loan

Two promoters of the company have created a pledge on their equity shares, as security for a loan taken by the company.

Mon 5 Oct 2026

Shares pledged by Mr. Narendra Madhusudan Murkumbi

1,00,000 equity shares pledged on September 29, 2026

Shares pledged by Khandepar Investments Private Limited

7,57,000 equity shares pledged on September 29, 2026

Pledge beneficiary

TATA Capital Limited as beneficiary, described as additional collateral security

Total encumbrance (% of promoter shareholding)

28.96% of promoter shareholding

Total encumbrance (% of total paid-up share capital)

15.00% of total paid-up share capital

Promoters of the company have created a pledge on some of the shares they hold. Here is what the disclosure says, in simple terms.

What a pledge means

A pledge is not a sale of shares. The promoters continue to hold the shares; the shares are simply placed with the lender as security. If the loan that the shares are tied to is not serviced, the lender can invoke the pledge over those shares. This update reports the creation of a pledge, not an invocation.

What was pledged

• Mr. Narendra Madhusudan Murkumbi, Promoter: 1,00,000 equity shares
• Khandepar Investments Private Limited, Promoter: 7,57,000 equity shares
• Both pledges were created on September 29, 2026
• The shares are pledged in favour of TATA Capital Limited as beneficiary
• Reason stated: security in connection with a loan obtained by Ravindra Energy Limited, described in the update as additional collateral security

Where each promoter stands on encumbrance after this

• Mr. Narendra Madhusudan Murkumbi: 99,00,000 equity shares encumbered, which is 4.98% of the total share capital
• Khandepar Investments Private Limited: 1,98,68,300 equity shares encumbered, which is 10.00% of the total share capital

Why it matters to a retail investor

A pledge does not change how many shares the promoters own, and it does not change the number of shares in the company. What changes is the status of those shares, which are now restricted and held as security with the lender. The loan in this case is taken by the company, and the promoters have offered their own shares as additional collateral.

The wider encumbrance picture

• Total promoter shareholding: 10,27,95,724 equity shares, or 51.78%
• Total encumbered shares: 2,97,68,300
• That is 28.96% of promoter shareholding
• And 15.00% of the total paid-up share capital, which the update puts at 19,85,61,903 shares
• The disclosure states that the encumbered shares are neither 50% or more of promoter shareholding, nor 20% or more of the total share capital

Other encumbrances listed

The update also sets out pledges created earlier by both promoters, in favour of Catalyst Trusteeship Limited (as trustee for Canara Bank and for other lenders) and JM Financial Products Limited. One of those earlier encumbrances relates to non-convertible debentures issued by REL Rural Warehousing Limited, a wholly owned subsidiary of Khandepar Investments Private Limited. The update notes that these earlier events were already reported.

Neutral takeaway

This is a disclosure of a financing arrangement in which promoter shares stand as collateral. How an investor reads it, as routine support for the company's borrowing or as a sign of leveraged promoter holdings, is a judgement each investor has to make based on the company's overall position.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.