Standard glass lining technology promoter Ramakrishna Kandula has disclosed the creation of a pledge on equity shares under SEBI regulations. The disclosure pertains to the encumbrance of 37,21,804 equity shares representing 1.86% of the company's total share capital.

Pledge Details and Distribution

The pledge was created on January 09, 2026, with the shares distributed among three financial institutions. The encumbrance covers personal borrowing requirements and has been structured across multiple lenders.

Lender-wise Share Distribution

The pledged shares have been allocated among three financial institutions based on their respective lending arrangements. Each institution holds a specific portion of the total pledged shares.

Promoter Shareholding Impact

Ramakrishna Kandula holds 4,40,64,000 equity shares in Standard Engineering Technology Limited, representing 22.09% of the total share capital. The current pledge represents 3.08% of his total promoter shareholding.

Financial and Security Details

The value of pledged shares on the date of the event was ₹51,88,19,478.00, while the amount involved against which shares have been encumbered is ₹110,00,00,000.00. The disclosure indicates that these shares have been additionally pledged solely to cover margin shortfall requirements.

Regulatory Compliance

The disclosure was made under Regulation 31(1) read with Regulation 28(3) of SEBI Takeover Code and Regulation 30 of SEBI Listing Obligations and Disclosures Requirements Regulations, 2015. The company is listed on both BSE Limited (Scrip Code: 544333) and National Stock Exchange of India Limited (Symbol: SGLTL).

Source:

Standard Glass Lining Technology Limited's promoter entity has created a pledge on a significant portion of its shareholding for personal borrowing purposes. S2 Engineering Services, represented by partners Kandula Ramakrishna and Kandula Krishna Veni, disclosed the encumbrance of equity shares under SEBI takeover regulations on January 2, 2026.

Pledge Details and Financial Arrangements

The promoter entity has pledged 1,14,57,143 equity shares, representing 5.74% of the company's total share capital. The pledge was created on December 31, 2025, and involves two separate financial institutions as beneficiaries.

Distribution Among Lenders

The pledged shares have been distributed between two financial institutions with specific allocations and corresponding loan amounts.

Promoter Shareholding Structure

S2 Engineering Services maintains a total holding of 1,88,26,000 equity shares in Standard Glass Lining Technology Limited, representing 9.44% of the company's total share capital. The pledged shares constitute 60.84% of the promoter's total shareholding in the company.

The value of the pledged shares on the date of the agreement was ₹170,88,32,878, creating a ratio of 2.35 times against the borrowed amount of ₹72,69,99,979. This indicates a conservative loan-to-value ratio for the pledge arrangement.

Regulatory Compliance and Disclosure

The disclosure was made in compliance with Regulation 31(1) read with Regulation 28(3) of the SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011. The company confirmed that the encumbered shares represent less than 50% of the promoter shareholding and less than 20% of the total share capital, ensuring compliance with regulatory thresholds.

The promoters explicitly stated that the borrowed funds are intended for personal use and will not benefit the listed company or its subsidiaries. Standard Glass Lining Technology Limited is listed on both BSE Limited and National Stock Exchange of India Limited under the scrip code 544333 and symbol SGLTL respectively.