Axis Trustee Services Receives 7.46% Share Pledge in Ganesha Ecosphere

Ganesha Ecosphere Limited has reported a significant share pledge to Axis Trustee Services Limited, according to recent corporate action. The pledge, involving 20,00,000 equity shares representing a 7.46% stake in the company, was executed on November 18, 2025.

Pledge Details

Aspect	Details
Pledgee	Axis Trustee Services Limited
Number of Shares Pledged	20,00,000
Stake Percentage	7.46%
Date of Pledge	November 18, 2025
Mode of Acquisition	Pledge of shares

Key Points

Axis Trustee Services Limited has clarified that it holds no beneficial interest in the pledged shares.
The pledge serves as security for facility arrangements under SEBI takeover regulations.
The pledged shares represent 7.46% of Ganesha Ecosphere's total equity share capital.

Aspect	Value
Total Equity Share Capital	Rs. 2,67,95,9840
Number of Shares	2,67,95,984
Face Value per Share	Rs. 10

Implications

While share pledges are common in corporate finance, they can sometimes indicate financial arrangements or obligations of the pledging entities. In this case, as Axis Trustee Services Limited is acting as a debenture trustee, the pledge likely relates to a broader financial arrangement rather than a direct investment or ownership change.

Investors and market participants may want to monitor any further developments or disclosures related to this pledge, given its significant portion of Ganesha Ecosphere's equity.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+8.67%	+8.09%	-22.23%	-42.49%	-59.21%	+206.85%

Ganesha Ecosphere Limited (GESL), a leading manufacturer of recycled polyester staple fiber (RPSF) and spun yarn, has submitted its monitoring agency report for the quarter ended September 30, 2025. The report, issued by ICRA Limited, confirms that there has been no deviation in the utilization of the Rs 149.97 crore raised through fully convertible equity warrants issued in January 2024.

Utilization of Funds

According to the report, the funds have been utilized as per the disclosed objectives:

Purpose	Amount Allocated (Rs Crore)	Amount Utilized (Rs Crore)
Plant and Machinery Purchase	82.50	39.18
Debt Repayment	37.50	37.50
General Corporate Purposes	29.97	11.16
Total	149.97	87.84

Deployment of Unutilized Proceeds

The remaining unutilized amount of Rs 62.25 crore has been deployed as follows:

Instrument	Amount (Rs Crore)	Maturity Date	Return on Investment
Fixed Deposit with Yes Bank	15.00	20-Oct-25	5.90%
Fixed Deposit with Yes Bank	20.00	19-Nov-25	5.95%
Fixed Deposit with Yes Bank	27.00	19-Nov-25	5.95%
Balance in Monitoring Account	0.25	-	-

Project Implementation Status

The company reports that the implementation of its objectives is on schedule:

The purchase of plant and machinery for manufacturing Rpet Resin/Granules and Rpet Filament Yarn is progressing as planned, with a completion date set for March 31, 2026.
The repayment of existing borrowings has been completed.
The utilization of funds for general corporate purposes is ongoing and on schedule, with a target completion date of March 31, 2026.

Corporate Governance

The monitoring agency report was reviewed by the Audit Committee and taken on record by the Board of Directors of Ganesha Ecosphere Limited at their respective meetings held on November 10, 2025. The board reported 'no comments' on the findings, indicating their agreement with the report's contents.

This transparent reporting of fund utilization demonstrates Ganesha Ecosphere's commitment to good corporate governance practices and responsible management of investor funds. The company's strategic deployment of capital towards expansion and debt reduction may potentially strengthen its market position in the recycled polyester industry.

Investors and stakeholders can access the full monitoring agency report on the company's website for more detailed information on the utilization of funds and project progress.