Promoter group member creates pledge on 3,00,000 shares with Jio Credit Limited

Promoter group member Kamala Murugesh Nirani has created a pledge on 3,00,000 equity shares (0.35% of total share capital) in favour of Jio Credit Limited.

Mon 28 Sep 2026

Shares Pledged

3,00,000 equity shares (0.35% of total share capital)

Lender

Jio Credit Limited

Pledgor Total Holding

42,27,590 shares (4.93% of total share capital)

Already Encumbered

39,03,146 shares (4.55% of total share capital)

Purpose of Debt

Financing acquisition of TruAlt Bioenergy shares to increase shareholding

What was shared

The company has intimated the exchanges of disclosures received from Ms. Kamala Murugesh Nirani, a member of the promoter group, under Regulation 31(1) of SEBI (SAST) Regulations and Form C under Regulation 7(2) of SEBI (PIT) Regulations.

Details of the encumbrance

• Type of event: Creation of pledge
• Shares pledged: 3,00,000 equity shares, being 0.35% of total share capital
• In favour of / ultimate lender: Jio Credit Limited (formerly Jio Finance Limited)
• Her total promoter holding: 42,27,590 shares, or 4.93% of total share capital (same on diluted basis)
• Already encumbered before the event: 39,03,146 shares, or 4.55% of total share capital

Purpose

The shares are pledged as security for debt availed by Mr. Vijaykumar Nirani and Mr. Vishal Nirani, promoters of the company, from Jio Credit Limited. The stated purpose of that debt is financing the acquisition of shares of TruAlt Bioenergy Limited, with the objective of increasing their shareholding in the company.

How to read this

A pledge does not change ownership of the shares; the promoter group member continues to hold them, but they stand as collateral with the lender. Investors generally track promoter pledge levels because pledged shares can be invoked by the lender if loan terms are not met. Here the borrowing is linked to promoters buying more shares of the company rather than to company-level funding.

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