Shraddha Prime Projects Limited has submitted a revised intimation to the Bombay Stock Exchange regarding the pledge creation by its promoter Mr. Sudhir Balu Mehta on equity shares of the company. The revision was necessitated due to a discrepancy identified by BSE wherein the post-event holding of encumbered shares was not tallying in the original submission.

Pledge Details

Mr. Sudhir Balu Mehta, promoter of Shraddha Prime Projects Limited, has created a pledge on 70,00,000 equity shares held by him in the company. The pledge was executed in favour of HDFC Bank Limited on February 28, 2026.

Purpose and Compliance

The pledge has been created as security for a loan availed by Shraddha Housing Projects Limited, where Mr. Sudhir Balu Mehta serves as a designated partner. The disclosure was made pursuant to Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Promoter Holdings

According to the disclosure format, Mr. Sudhir Balu Mehta holds 30,21,05,48 equity shares in Shraddha Prime Projects Limited, representing 74.78% of the total share capital. Prior to this pledge creation, he had no encumbered shares in the company.

Documentation and Disclosure

The company has uploaded the intimation along with relevant documents on its official website at shraddhaprimeprojects.in. The disclosure was signed by Company Secretary Neha Bharat Chhatbar on behalf of Shraddha Prime Projects Limited. Mr. Sudhir Balu Mehta also provided his separate disclosure letter to both the company and the stock exchange, digitally signed on March 12, 2026.

Shraddha Prime Projects Limited has received formal disclosure from its promoter regarding a significant pledge creation. Mr. Sudhir Balu Mehta has submitted the required documentation to both the company and BSE Limited, detailing the pledge of a substantial portion of his shareholding to secure financing arrangements.

Pledge Transaction Details

The pledge involves 70,00,000 equity shares held by promoter Sudhir Balu Mehta, representing 17.33% of the company's total share capital. The shares have been pledged in favour of HDFC Bank Limited as security for a loan availed by Shraddha Housing Projects LLP, where Mehta serves as a designated partner.

Promoter Shareholding Impact

Prior to this pledge creation, Sudhir Balu Mehta held no encumbered shares. His total promoter holding in the company stands at 30,210,548 shares, representing 74.78% of the total share capital. Following the pledge creation, his post-event encumbered shareholding has increased to 23,210,548 shares.

Formal Documentation and Compliance

The promoter has submitted a formal letter dated February 28, 2026, to both Shraddha Prime Projects Limited and The Stock Exchange Mumbai. The disclosure has been made pursuant to Regulation 31(1) of SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011, ensuring full regulatory compliance.

The formal documentation includes the standard format for disclosure by promoters to stock exchanges regarding encumbrance of shares. Mr. Mehta's communication was addressed from his registered address at Panorama, The Address, LBS Road, Ghatkopar West, Mumbai, and includes all required details as per SEBI regulations for pledge creation events.