IRB Infrastructure: Promoter revises pledge disclosure, shares encumbered

IRB Infrastructure Developers (BSE: IRB) received a revised disclosure on March 5, 2025, from promoter Smt. Sudha Dattatray Mhaiskar. The revision pertains to Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, regarding the creation of a pledge. Mhaiskar clarified that the original date of creation/release/invocation of encumbrance was incorrectly stated as February 14, 2024, and that the correct date is February 14, 2025. The revised disclosure indicates the creation of a pledge in favor of Kotak Securities Limited for 600,000 shares. Following this, the post-event holding of encumbered shares is 27,70,000, representing 0.046% of the total share capital. The reason for the pledge is personal borrowing. The value of the shares on February 14, 2025, was INR 28,428,000, and the amount involved against which shares have been encumbered is INR 100,000,000, leading to a ratio of 0.28. The borrowed funds will be used for personal purposes by promoters and PACs.