Patodia Properties Private Limited, a promoter of Choice International Limited, has encumbered an additional 260,000 shares as collateral for credit facilities. This strategic move, finalized on March 30, 2026, involves pledges to Aditya Birla Finance Limited and SMFG India Credit Co Ltd. Following this transaction, the total promoter shareholding encumbered stands at 91.85% of their total holding, while the company maintains a robust security cover ratio of 2.78.
Details of Share Encumbrance
On March 30, 2026, Patodia Properties Private Limited, a promoter group entity, initiated a fresh pledge of 260,000 shares of Choice International Limited. This action was taken to provide collateral for credit facilities utilized by the promoter entity for its own operational requirements. The encumbered shares represent approximately 0.12% of the total share capital of the company.
Breakdown of Collateral
The total encumbrance is split between two financial institutions. A pledge of 250,000 shares was provided to Aditya Birla Finance Limited, while 10,000 shares were pledged to SMFG India Credit Co Ltd. Following these latest transactions, the total number of promoter shares held under encumbrance reached 7,780,000, which accounts for 3.49% of the company’s total outstanding share capital.
Security and Financial Position
The transaction reflects a strong security cover, with the value of the pledged shares amounting to Rs. 16.67 crore against the credit facilities secured. The resulting ratio of 2.78 demonstrates a healthy margin maintained by the promoter in relation to the borrowed funds. The company has clarified that these funds are for the promoter’s own use and are not intended for the listed company itself.
Source: BSE
