Loan & Debt25 Jun 2026, 01:49 pm
Wanbury Ltd: Promoter Pledge Released, Interest Rate Drops Below 10%
AI Summary
Wanbury Ltd announced the release of pledge on 1,42,03,818 equity shares (40.65% of paid-up capital) held by its Promoter Group. This release is a consequence of existing debt facilities being taken over by Axis Finance Limited & Poonawala Fincorp, replacing Investec AIF & Tata Capital Limited. Following this refinancing, only 5.49% of the Promoter Group's holding remains pledged with SBM for working capital. Additionally, the company's borrowing cost will reduce to below 10% per annum from July 1, 2026, a move expected to lower finance costs and boost profitability.
Key Highlights
- Promoter Group's 40.65% stake freed from pledge.
- Debt facilities refinanced by Axis Finance & Poonawala Fincorp.
- Borrowing cost to fall below 10% p.a. from July 1, 2026.
- Reduced finance costs expected to improve profitability.
- Only 5.49% of promoter holding remains pledged.
Price Impact
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