Investment28 March 2026 at 08:01 am
Sreekanth Reddy Sammidi Pledges Shares in Sagar Cements Ltd for Rs.200 Crores Secured NCDs
AI Summary
Sreekanth Reddy Sammidi, a promoter of Sagar Cements Limited, has pledged shares worth Rs.200 crores as security for one-time cover for secured unrated unlisted redeemable non-convertible debentures (NCDs) issued by R V Consulting Services Private Limited. The pledge and restriction on change of control fall under the definition of 'encumbrance' as per SEBI (SAST) Regulations, 2011. The pledged shares represent 80.80% of Sreekanth Reddy Sammidi's total promoter shareholding and 20.83% of the total share capital in Sagar Cements Limited.
Key Highlights
- Sreekanth Reddy Sammidi pledges shares worth Rs.200 crores in Sagar Cements Limited for secured NCDs.
- The pledge represents 80.80% of Sreekanth Reddy Sammidi's total promoter shareholding in Sagar Cements Limited.
- The pledged shares account for 20.83% of the total share capital in Sagar Cements Limited.
- The pledge and restriction on change of control fall under the definition of 'encumbrance' as per SEBI (SAST) Regulations, 2011.
- R V Consulting Services Private Limited issued the NCDs with a debenture trust deed dated 31st December 2024 and 9th December 2025.