Shapoorji Pallonji and Company Private Limited (SPCPL), a promoter of Afcons Infrastructure Limited, filed a mandatory disclosure regarding the creation of a pledge on its equity shares. The disclosure, dated February 17, 2026, details a second charge pledge involving 1,22,34,940 equity shares, representing 3.33% of the total share capital. The primary purpose for this recent encumbrance was to secure a Working Capital Facility for the company.
Encumbrance Disclosure Filed by Promoter
Shapoorji Pallonji and Company Private Limited (SPCPL), acting as a Promoter of Afcons Infrastructure Limited, has formally disclosed the creation of a pledge on its holding of the company’s equity shares. The filing was made on February 17, 2026, in compliance with regulatory requirements concerning substantial shareholding changes.
Details of Share Pledging
The filing documents detail multiple existing encumbrances, highlighting a recent transaction creating a second charge:
For the most recent event on February 16, 2026, the following details were provided:
- Type of Encumbrance: Pledge (Second Charge/Re-pledge).
- Shares Encumbered: 1,22,34,940 equity shares.
- Impact on Share Capital: This represents 3.33% of the total share capital.
- Beneficiary: The shares were pledged in favor of Catalyst Trusteeship Limited.
This new pledge is specifically in addition to an existing first charge pledge created earlier on June 25, 2025, involving 4,44,46,470 shares (12.08% of capital) in favor of SBICAP Trustee Company Limited and its consortium of lenders.
Purpose of the Encumbrance
The primary reason cited for the creation of the pledge on February 16, 2026, was to secure a Working Capital Facility availed from a consortium of lenders led by the State Bank of India. This facility is designated for the Working Capital Requirements of the company.
Shareholding Context
SPCPL’s total promoter shareholding in Afcons Infrastructure Limited stands at 5,66,81,410 shares, representing 15.41% of the total capital. The filing confirms that 100% of SPCPL’s promoter shareholding has been encumbered, which is equivalent to more than 50% of the total share capital.
Valuation Metrics
The valuation calculations supporting the pledge are based on closing share prices around the transaction dates:
- For the pledge created on February 16, 2026, the share price used was Rs. 326.30 (NSE) and Rs. 326.20 (BSE).
- The resulting Ratio of Asset Cover to Amount Involved (A/B) for this transaction is calculated at 2.347.
The overall structure of the pledge documentation indicates that SPCPL has provided collateral supporting various financial arrangements, with the current filing reflecting a re-pledge action related to ongoing funding needs.
Source: BSE
