Garuda Construction & Engineering disclosed on August 3, 2026, that its promoter, PKH Ventures Limited, has pledged 65,00,000 equity shares, equivalent to 6.99% of the total share capital. The encumbrance was created on July 31, 2026, in favor of Aditya Birla Capital Limited to secure financing for working capital purposes. This move brings the total encumbered portion of the promoter’s holding to 13.51%, while the pledged shares remain below the critical threshold of 20% of the total share capital.

The disclosure was made in compliance with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, along with SEBI Circulars SEBI/HO/CFD/DCR-3/P/CIR/2022/27 dated March 07, 2022, and SEBI/HO/CFD/DCR1/CIR/P/2019/90 dated August 07, 2019. Pravin Kumar Brijendra Kumar Agarwal, Managing Director and Chairman of Garuda Construction & Engineering Limited, signed the intimation submitted to both BSE Limited and National Stock Exchange of India Limited.

Pledge Details

The following table outlines the specifics of the share encumbrance:

Financial Implications

Prior to this event, PKH Ventures Limited held no encumbered shares. The promoter’s total holding stands at 4,81,00,490 shares, representing 51.7% of the total share capital. The newly pledged shares constitute 13.51% of the promoter’s total stake. The value of the shares on the date of the event was ₹1,13,55,50,000, against an amount involved of ₹50,00,00,000, resulting in a security cover ratio of 2.2:1.

What the Numbers Show

The creation of this pledge indicates a liquidity management strategy by the promoter group rather than a distress signal, given the substantial collateral coverage. With a security ratio of 2.2:1, the lender has significant cushion against market volatility. Furthermore, since the encumbered shares do not exceed 50% of the promoter’s holding or 20% of the total share capital, the move does not trigger additional regulatory scrutiny under standard pledge monitoring frameworks. The funds are explicitly earmarked for working capital, suggesting operational liquidity needs rather than personal borrowing by promoters.

Garuda Construction & Engineering Limited has appointed Mr. Krishnakumar Laxman Bangera and regularized Mrs. Dhruti Harsh Satia as Non-Executive Independent Directors for a term of five years. The appointments, effective June 1, 2026, and April 21, 2026, respectively, were approved by the company's members. These moves align with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to strengthen board governance.

Mr. Krishnakumar Laxman Bangera brings extensive experience managing organizations across diverse cultures and teams. Mrs. Dhruti Harsh Satia, a Company Secretary and Associate Member of ICSI, previously served Mercury Trade Links Limited and Essel Finance Wealth Zone Private Limited. The company confirmed there are no inter-relationships between the new appointees and existing directors.

Appointment Details