Patodia Properties Private Limited has submitted a mandatory disclosure regarding the release of encumbrance on shares held in Choice International Limited. This submission, filed under SEBI regulations, details the unwinding of pledges and margin securities across several promoter group entities. The total reported pre-release encumbered shares stood at 1,56,50,000, representing 7.02% of the total capital, which are now partially or fully released as of March 13, 2026.
Mandatory Disclosure on Share Encumbrance Release
Patodia Properties Private Limited issued a formal disclosure concerning the release of encumbrance on shares of Choice International Limited. This action was taken pursuant to Regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The reporting date for these transactions is March 13, 2026.
Summary of Released Encumbrances
The disclosure highlights multiple entities within the Promoter Group where shares previously held under pledge or margin agreement have been released. The total promoter holding reported before these releases was 12,78,02,292 shares, equating to 57.37% of the total capital.
The total number of shares previously under encumbrance (pledge, lien, etc.) across all reporting entities totaled 1,56,50,000 (7.02% of capital). Following the described releases and invocations, the final post-event holding of encumbered shares across the group amounts to 1,46,30,000, or 6.57%.
Key Transactions Detailed in Annexure 1
The filing details specific movements, including:
- M/s. Patodia Properties Private Limited: Reported a release of pledge shares on March 9, 2026. A release of margin pledge resulted in 10,20,000 shares (0.46%) being released from encumbrance, reducing their tied holding to 69,30,000 (3.11%) with National Securities Clearing Corporation Ltd.
- M/s Shreeyam Trade Dynamics Private Limited: Previously held 45,00,000 shares (2.02%) under encumbrance, which remains unchanged in the post-event column, suggesting this transaction was not part of the reported release event for this entity.
- Mr. Arunkumar Poddar: Held 6,00,000 shares (0.27%) under encumbrance, which remains unchanged in the post-event column.
- Sunil Kumar Bagaria (PAC): A specific encumbrance of 2,00,000 shares (0.09%) was reported as encumbered with an entity whose name is not fully specified in the final column for the group’s post-event holding, even though their initial encumbrance was 2,00,000.
Promoter Group Status
The filing confirms that the transaction was authorized and signed by Suyash Sunil Patodia, Director, on behalf of Patodia Properties Private Limited, indicating unified action across the controlling promoter group entities.
Source: BSE
