Shapoorji Pallonji and Company Private Limited (SPCPL) has issued a revised disclosure concerning the pledge of its equity shares in Afcons Infrastructure Limited. This revision, dated March 10, 2026, was necessitated to include the name of the Lender, which was omitted in the initial filing on February 17, 2026. The updated filing details the pledge of 1,22,34,940 equity shares, representing 3.33% of the total share capital, for Working Capital requirements.
Revised Regulatory Filing for Afcons Share Pledge
Shapoorji Pallonji and Company Private Limited (SPCPL) has formally submitted revised disclosures to the stock exchanges regarding the encumbrance of its holding in Afcons Infrastructure Limited. This updated filing addresses an omission in the initial intimation sent on February 17, 2026, specifically regarding the requirement to name the Lender in Annexure II and Regulation 31(1) filings.
Details of the Encumbrance Event
The disclosure confirms the creation of an encumbrance (Pledge) event dated February 16, 2026, affecting 1,22,34,940 equity shares of Afcons Infrastructure. This number represents 3.33% of the total share capital, equating to 12.08% of the promoter’s holding at that time.
| Metric | Value (Initial Pledge) | Value (Revised Pledge – Post Event) |
|---|---|---|
| Shares Pledged (Number) | 4,44,46,470 | 1,22,34,940 |
| Share Capital Percentage | 12.08% | 3.33% |
| Reason | For Working Capital Requirement | For Working Capital Requirement |
Identification of Beneficiaries
The pledged shares were initially created on June 25, 2025, in favour of SBICAP Trustee Company Limited and a consortium of lenders led by the State Bank of India. The subsequent event detailed on February 16, 2026, pertains to a second charge (re-pledge) in favour of Catalyst Trusteeship Limited (Debenture Trustee) and JM Financial Credit Solutions Limited, along with other investors/lenders.
Valuation Context (February 16, 2026)
The value of the shares involved in the February 16, 2026, pledge was determined based on the closing prices on that date. The amount involved, against which the shares were encumbered, was approximately INR 3,99,10,37,428 (based on the BSE closing price of Rs 326.20/- per share).
The total shareholding of SPCPL in Afcons Infrastructure Limited as of the reporting date remains 5,66,81,410 shares, constituting 15.41% of the total share capital.
Source: BSE
