EMS Limited has announced the release of a significant number of pledged shares held by its promoters. The company disclosed that 14,15,000 shares have been released from pledge following the repayment of a loan amounting to ₹15 crore. This development was detailed in a regulatory filing under the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
The shares were previously pledged by Mr. Ramveer Singh, a promoter of EMS Limited, as collateral for a loan from Jio Credit Limited. With the loan now fully repaid, the encumbrance on these shares has been lifted. Prior to the release, Mr. Singh held a total of 3,76,75,882 shares, representing 67.85% of the company’s total share capital, with 1,24,09,100 shares, or 22.35%, previously encumbered.
Following the release, the number of encumbered shares now stands at 1,09,94,100, which constitutes 19.80% of the total share capital. The release of these shares marks a reduction in the percentage of shares encumbered by Mr. Singh, reflecting a positive shift in the financial obligations tied to the company’s shares.
This move aligns with EMS Limited’s ongoing efforts to manage its financial structure effectively and maintain transparency in its dealings with stakeholders. The company continues to adhere to regulatory requirements, ensuring that all necessary disclosures are made in a timely and accurate manner.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).