IRB promoter Mhaiskar pledges shares for personal borrowing

IRB Infrastructure Developers (BSE: IRB) has received disclosures regarding the creation of a pledge by promoter Sudha Dattatray Mhaiskar. According to filings on February 17, 2025, Mhaiskar encumbered 1.42 million shares, representing 0.024% of IRB's total share capital, in favor of Bajaj Financial Securities Limited. This pledge, created on February 10, 2024, is for personal borrowing purposes. Following the creation of the pledge, Mhaiskar's encumbered shares total 2.17 million, or 0.036% of IRB's total share capital. While the encumbered shares represent a significant portion (55.42%) of Mhaiskar's promoter shareholding, it's below the threshold requiring additional disclosures. The value of the shares on the date of the agreement was INR 73,556,000, against an amount involved of INR 180,000,000, resulting in a ratio of 0.41.