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.

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).

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