Rajapalayam Mills Limited has disclosed the creation of a pledge on 10,000 equity shares of The Ramco Cements Limited in favour of Barclays Investments & Loans (India) Pvt. Ltd. The pledge was created on 24-03-2026 as additional comfort for borrowing purposes, adding to the company's existing encumbered shareholding in the cement manufacturer.

Pledge Details and Regulatory Compliance

The disclosure was made on 25-03-2026 in compliance with Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The pledge represents a minimal 0.01% of The Ramco Cements Limited's total share capital but adds to Rajapalayam Mills' existing encumbered position.

Current Shareholding Position

Rajapalayam Mills Limited holds a significant stake in The Ramco Cements Limited, with total promoter holding of 3,21,69,264 shares representing 13.61% of the target company's share capital. Following this latest pledge creation, the company's total encumbered shares have increased to 1,89,91,625 shares, representing 8.04% of The Ramco Cements' total share capital.

Promoter Group Holdings

The disclosure also reveals the broader promoter group structure of The Ramco Cements Limited. The total promoter and promoter group holding stands at 10,05,54,774 shares, representing 42.54% of the company's share capital. Other significant promoter entities include:

• Ramco Industries Limited: 5,15,66,295 shares (21.82%)
• Sri Vishnu Shankar Mill Limited: 30,94,200 shares (1.31%)
• Sudharsanam Investments Limited: 29,82,600 shares (1.26%)
• The Ramaraju Surgical Cotton Mills Limited: 28,46,075 shares (1.20%)

The disclosure demonstrates Rajapalayam Mills' continued financial arrangements using its substantial shareholding in The Ramco Cements Limited as collateral for borrowing purposes.

Ramco Cements has announced that CRISIL Ratings Limited has assigned and reaffirmed credit ratings for its debt instruments under Regulation 30 of SEBI regulations. The cement manufacturer received a new AA+/Stable rating for its non-convertible debentures programme and had its existing commercial paper rating reaffirmed at the highest short-term level.

Credit Rating Details

CRISIL Ratings has provided ratings for two key debt instruments of the company:

The ratings were communicated through letters dated March 13, 2026, with the company making the disclosure on March 16, 2026.

Rating Significance

The CRISIL AA+/Stable rating assigned to the Rs. 500.00 crore non-convertible debentures indicates that these securities are considered to have a high degree of safety regarding timely servicing of financial obligations. According to CRISIL, such securities carry very low credit risk, reflecting the company's strong financial position.

The CRISIL A1+ rating reaffirmation for the Rs. 900.00 crore commercial paper programme represents the highest short-term rating category. Securities with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations and carry the lowest credit risk.

Validity and Surveillance

For the commercial paper programme, the rating letter remains valid for 60 calendar days from March 13, 2026, for issuance purposes. Once issued, the rating remains valid throughout the life of the commercial paper programme with a maximum maturity of one year, unless revised by CRISIL.

The non-convertible debentures rating requires utilization within 180 days from the rating date. If the company does not make the issue within this period or changes the size or structure of the proposed issue, a fresh revalidation letter from CRISIL will be necessary.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per SEBI requirements, the company will need to provide the International Securities Identification Number (ISIN) details to CRISIL within two days after allotment for any bond or debenture issuances made against the rating.

CRISIL maintains continuous surveillance of all assigned ratings and reserves the right to withdraw or revise ratings based on new information or changing circumstances that may impact the credit profile of the instruments.