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.

Source:

Standard Glass Lining Technology Limited (now Standard Engineering Technology Limited) announced that promoter Katragadda Venkata Ramani has pledged a portion of his equity holdings for personal borrowing purposes. The disclosure was made in compliance with SEBI regulations regarding substantial acquisition and takeover norms.

Pledge Transaction Details

The promoter created a pledge on 9,41,124 equity shares on January 09, 2016, in favor of SMEG India Credit Co. Ltd. This represents 0.44% of the company's total share capital and constitutes a significant portion of the promoter's individual holding.

Promoter Shareholding Structure

Katragadda Venkata Ramani holds 15,00,000 equity shares in Standard Engineering Technology Limited, representing 0.75% of the total share capital. The pledged shares constitute 0.78% of his total promoter shareholding, which falls below the 50% threshold requiring enhanced disclosure norms.

Financial Security Cover

The pledge arrangement provides adequate security cover for the borrowing transaction. The value of pledged shares on the date of the agreement was ₹13.12 crores against a borrowing amount of ₹10.00 crores, resulting in a security cover ratio of 1.31 times.

Regulatory Compliance

The company filed the mandatory disclosure under Regulation 31(1) read with Regulation 28(3) of SEBI Takeover Code and Regulation 30 of SEBI Listing Obligations. The disclosure confirms that:

• The encumbered shares represent less than 20% of total share capital
• The pledged amount is below 50% of promoter shareholding
• The borrowing proceeds are intended solely for personal use by the promoter
• No funds from this arrangement will be utilized by the company or its subsidiaries

Standard Engineering Technology Limited, formerly known as Standard Glass Lining Technology Limited, is listed on both BSE Limited and National Stock Exchange of India Limited under the symbols 544333 and SGLTL respectively.