Patodia Properties Private Limited, a promoter of Choice International Limited, has encumbered a portion of its stake to secure credit facilities. The pledge, involving 260,000 shares, was executed on March 30, 2026. This transaction serves as collateral for loan facilities utilized by the promoter group. Despite this development, the promoters maintain a significant stake in the company, with the total encumbered holdings now representing 3.49% of the total share capital.
Details of Share Pledge
On March 30, 2026, Patodia Properties Private Limited, a promoter entity of Choice International Limited, created an encumbrance on 260,000 equity shares. This action was taken to provide collateral for credit facilities availed by the promoter. Specifically, 250,000 shares were pledged in favor of Aditya Birla Finance Limited and 10,000 shares in favor of SMFG India Credit Co Ltd.
Promoter Shareholding Overview
Following this transaction, the post-event holding of encumbered shares for the entity stands at 7,780,000 shares, which corresponds to 3.49% of the total share capital of Choice International Limited. The total promoter group holding remains substantial, with 127,802,292 shares currently held, representing 57.37% of the total share capital. The company clarified that these shares are pledged strictly for personal credit facilities utilized by the promoters and not for the benefit of the listed entity itself.
Security Cover and Valuation
The total value of the shares provided as collateral at the time of the agreement was Rs. 16.67 crore. The debt instruments associated with this pledge cover an amount of Rs. 6 crore, resulting in a healthy security cover ratio of 2.78. This disclosure underscores the promoter’s commitment to maintaining financial transparency regarding their holdings in the company.
Source: BSE
