Magellanic Cloud Limited , a company listed on both BSE Limited and National Stock Exchange Limited, has reported a significant pledge of shares by its promoters. Joseph Sudheer Reddy Thumma and Jagan Mohan Reddy Thumma, the promoters of the company, have pledged shares representing 39.62% of the company's equity as collateral for loans.

Details of the Pledge

The pledge creation occurred between October 20-24, 2025, involving a total of 23,15,41,120 shares held by Joseph Sudheer Reddy Thumma. This large-scale pledge was accompanied by several smaller pledges created with various financial institutions and trading companies.

Breakdown of Pledges

Here's a detailed breakdown of the pledges created:

Purpose of Pledges

The pledges were created to secure loans from multiple lenders, including trading corporations, finance companies, and stock broking firms. This move by the promoters indicates a significant financial transaction, potentially for business expansion or other corporate purposes.

Impact on Shareholding

Prior to this event, Joseph Sudheer Reddy Thumma held 23,15,41,120 shares (39.62% of the share capital), of which 3,73,35,000 shares (6.39%) were already encumbered. Jagan Mohan Reddy Thumma held 4,70,00,000 shares (8.04%), with 1,31,90,000 shares (2.26%) previously encumbered.

Regulatory Compliance

This pledge creation has been reported in compliance with Regulation 31(1) & 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has duly informed the stock exchanges about this development, maintaining transparency with its investors and regulatory bodies.

Magellanic Cloud Limited, a prominent player in the Indian technology sector, has announced a significant change in its top management. Sanjay Mahendra Chauhan, the company's Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), has tendered his resignation, effective October 15, 2025.

Resignation Details

The company disclosed this development in a regulatory filing to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). According to the filing, Chauhan's decision to step down is attributed to adverse health conditions.

Tenure and Contribution

Sanjay Mahendra Chauhan has been an integral part of Magellanic Cloud Limited for nearly 11 years. His long-standing association with the company underscores the significance of his role in shaping the financial strategies and operations of the organization.

Official Statement

In his resignation letter, Chauhan expressed his gratitude for the opportunities and experiences during his tenure. He stated, "I am sincerely grateful for the opportunities and experiences I've had during my tenure with Magellanic Cloud. It has been a great privilege to serve the company for nearly 11 years, and I have learned so many things under you."

Regulatory Compliance

Magellanic Cloud Limited has adhered to the regulatory requirements by promptly informing the stock exchanges about this change in Key Managerial Personnel. The disclosure was made in accordance with Regulation 30 and Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Company's Response

Joseph Sudheer Reddy Thumma, the Managing Director of Magellanic Cloud Limited, signed the regulatory filing, acknowledging Chauhan's resignation and the reasons provided. The company has confirmed that there are no other material reasons for Chauhan's departure beyond the stated health issues.

This change in the top financial leadership position may have implications for Magellanic Cloud Limited's financial strategy and operations in the near future. Stakeholders and investors will likely be keen to see how the company manages this transition and who will be appointed as the new CFO to fill this crucial role.