Shapoorji Pallonji and Company Private Limited (SPCPL), a promoter of Afcons Infrastructure Limited, has reported the creation of a pledge on a significant block of equity shares. On February 16, 2026, 1,22,34,940 equity shares, representing 3.33% of the total share capital, were pledged. This pledge is a second charge in favor of Catalyst Trusteeship Limited for working capital purposes, indicating a re-pledge of previously encumbered shares.
Encumbrance Disclosure for Afcons Infrastructure
This disclosure is submitted by Shapoorji Pallonji and Company Private Limited (SPCPL) regarding the creation of an encumbrance on its shareholding in Afcons Infrastructure Limited, pursuant to existing regulations.
As of the reporting date, February 17, 2026, SPCPL holds a total promoter shareholding of 5,66,81,410 shares, which constitutes 15.41% of the total share capital. It is noted that 100% of SPCPL’s promoter shareholding is encumbered.
Details of the New Pledge Creation
The document details the creation of a pledge event that occurred on February 16, 2026.
- Type of Encumbrance: Pledge (Second Charge/Re-pledge).
- Shares Encumbered: 1,22,34,940 shares.
- Percentage of Total Capital: This block represents 3.33% of the total share capital.
- Beneficiary Entity: The shares were pledged in favor of Catalyst Trusteeship Limited.
- Reason for Encumbrance: The purpose stated is for Working Capital requirements of the Company.
Comparison with Previous Encumbrances
This new pledge of 1,22,34,940 shares is specifically noted as a second charge, implying a re-pledge. This follows an initial encumbrance (first charge) established on June 25, 2025, involving 4,44,46,470 shares (12.08% of total capital) in favor of SBICAP Trustee Company Limited and a consortium of lenders led by the State Bank of India.
Valuation Context
The value of the shares on the date of this new pledge creation (February 16, 2026) was calculated based on closing prices:
- Value based on NSE closing price (Rs. 326.30 per share): INR 3,99,22,60,922.
- Value based on BSE closing price (Rs. 326.20 per share): INR 3,99,10,37,428.
The Amount Involved (B) against which these shares were encumbered is Rs 170,00,00,000. This results in an Asset Cover Ratio (A/B) of 2.347 for this specific pledge tranche.
Post Event Holding
Following this creation, the total post-event holding of encumbered shares remains the same as the initial holding, as the first charge is still binding. The entity’s total holding remains 5,66,81,410 shares, representing 15.41% of the total share capital.
Source: BSE
