Shirdi Sai Electricals Limited has extended its existing pledge on a significant portion of Indo Tech Transformers Limited's shares to secure additional funding through non-convertible debentures. This move comes amidst Indo-Tech Transformers' strong financial position, as evidenced by its latest balance sheet data.

Pledge Extension Details

• Shares Pledged: 27,61,200 equity shares
• Percentage of Total Share Capital: 26%
• Additional Debenture Issuance: INR 75.00 crores
• Total Debenture Issuance: INR 675.00 crores (including previous issuances)
• Date of Supplemental Agreement: December 2, 2025
• Trustee: Catalyst Trusteeship Limited (acting as common security trustee)

Impact on Indo-Tech Transformers Limited

While the pledge extension directly involves Shirdi Sai Electricals Limited, it's important to consider the financial health of Indo-Tech Transformers Limited, the company whose shares are being pledged. Based on the latest balance sheet data as of March 2025:

The financial data indicates that Indo-Tech Transformers Limited has maintained a strong financial position:

1. Asset Growth: The company's total assets have grown by 14.08% year-over-year, reaching INR 435.90 crores.
2. Equity Strength: Total equity has increased significantly by 29.28%, suggesting improved financial stability.
3. Liability Management: Current liabilities have decreased by 7.75%, potentially indicating better short-term debt management.

Implications of the Pledge Extension

1. Funding for Shirdi Sai Electricals: The additional INR 75.00 crores raised through non-convertible debentures may provide Shirdi Sai Electricals with capital for expansion or operational needs.
2. Investor Confidence: The willingness of debenture holders to provide additional funding could be seen as a sign of confidence in Shirdi Sai Electricals' business prospects.
3. Potential Impact on Indo-Tech: While the pledge itself doesn't directly affect Indo-Tech Transformers' operations, investors may want to monitor any potential changes in ownership or control that could result from this financial arrangement.

Conclusion

The extension of the share pledge by Shirdi Sai Electricals Limited reflects ongoing financial activities in the electrical equipment sector. While the pledge involves a significant portion of Indo-Tech Transformers' shares, the company's strong financial metrics suggest it is well-positioned to navigate any potential changes that may arise from this arrangement. Investors and stakeholders should continue to monitor both companies for any further developments or impacts on their respective business operations and financial health.

Indo Tech Transformers announced that its promoter, Shirdi Sai Electricals Limited, has pledged 27,61,200 equity shares, representing 26% of the total share capital of Indo-Tech Transformers, to Catalyst Trusteeship Limited. This pledge serves as security for Non-Convertible Debentures (NCDs) worth INR 600.00 crores and Optionally Convertible Debentures (OCDs) worth INR 150.00 crores.

Key Details of the Pledge

• The pledge affects Shirdi Sai Electricals' post-event holding, which is reduced to 61,52,236 shares (57.93% of total share capital).
• The pledged shares provide security cover for the debenture issuances, which will be used to repay existing lenders.

Debenture Issuance Parties

NCD Debenture Trust Deed

• Shirdi Sai Electricals Limited
• Catalyst Trusteeship Limited
• Mr. N. Visweswara Reddy

OCD Debenture Trust Deed

• Shirdi Sai Electricals Limited
• Catalyst Trusteeship Limited
• Mr. N Visweswara Reddy
• Neo Special Credit Opportunities Fund
• Neo Credit Opportunities Fund I
• Neo Special Credit Opportunities Fund II

The pledge is to be created within the timelines set out in the respective trust deeds, following the release of existing encumbrances once current lenders are repaid from the proceeds of the Non-Convertible Debentures.

This disclosure is made in compliance with Regulation 31 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and SEBI's Master circular dated February 16, 2023 (Reference: SEBI/HO/CFD/PoD-1/P/CIR/2023/31).