Standard glass lining technology (formerly known as Standard Glass Lining Technology Limited) disclosed a share pledge transaction by one of its promoters under regulatory compliance requirements. The company filed the disclosure on January 12, 2016, with both BSE Limited and National Stock Exchange of India Limited, where its shares are listed under scrip code 544333 and symbol SGLTL respectively.

Share Pledge Details

Promoter Katragadda Venkata Ramani created a pledge on 9,41,124 equity shares of the company on January 09, 2016. The pledged shares represent 0.44% of the total share capital and were encumbered in favor of SMEq India Credit Co. Ltd.

Financial Terms and Security Cover

The pledge arrangement involves a borrowing amount of ₹10.00 crores against the encumbered shares. The value of pledged shares on the date of the agreement was ₹13.12 crores, providing a security cover ratio of 1.31 times the borrowed amount.

Promoter Holdings and Impact

The promoter's total shareholding in Standard Engineering Technology Limited stands at 15,00,000 shares, representing 0.75% of the company's total share capital. The encumbered shares constitute 0.78% of the promoter's total shareholding in the company.

Purpose and Utilization

The promoter explicitly stated that the borrowing proceeds are intended for personal use and will not benefit the listed company or its subsidiaries. The disclosure confirms that no funds from this borrowing arrangement are proposed to be utilized by Standard Engineering Technology Limited or any of its group companies. This pledge creation falls under the category of personal borrowing and does not involve any debt instruments such as debentures, commercial papers, or certificates of deposit.

Standard Glass Lining Technology Limited's promoter Ramakrishna Kandula has pledged 37,21,804 equity shares of the company to three financial institutions for personal borrowing requirements. The pledge, created on January 09, 2026, represents 1.86% of the company's total share capital and was disclosed to BSE and NSE on January 12, 2026.

Pledge Details and Distribution

The pledged shares have been distributed among three established financial institutions as security for personal borrowings. The arrangement demonstrates a structured approach to collateral management across multiple lenders.

Financial Implications and Promoter Holdings

The pledged shares carry a market value of ₹51,88,19,478 as of the event date. This pledge represents 8.44% of Kandula's total shareholding in the company, while his overall stake remains substantial at 22.09% of the total share capital.

Regulatory Compliance and Risk Assessment

The disclosure was made in accordance with Regulation 31(1) read with Regulation 28(3) of SEBI Takeover Regulations and Regulation 30 of SEBI LODR Regulations. The company confirmed that the encumbered shares represent less than 50% of promoter shareholding and less than 20% of total share capital, indicating manageable risk levels.

The pledge arrangement includes specific provisions where the promoters will not receive any amount against this pledge, as it has been created exclusively for meeting margin requirements. The security cover ratio stands at 0.47, reflecting the relationship between share value and the borrowing amount.

Corporate Structure and Listing Details

Standard Engineering Technology Limited, formerly known as Standard Glass Lining Technology Limited, is listed on both BSE (Scrip Code: 544333) and NSE (Symbol: SGLTL). The company is headquartered in Hyderabad, Telangana, and operates from its facility at D.12, Phase-1, IDA Jeedimetla.

The pledge creation represents a standard corporate finance practice where promoters utilize their shareholding as collateral for personal financial requirements while maintaining their strategic control over the company operations.

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