N.R. Agarwal promoters encumber majority stake for term loan

On November 21, 2025, N.R. Agarwal Industries Limited announced that its promoters, R.N. Agarwal, Reena Agarwal, and Raunak Agarwal, have encumbered 12,517,966 shares. This represents 73.55% of the total promoter shareholding and 73.55% of the total share capital. The encumbrance, categorized as a Non-Disposal Undertaking, was primarily established to secure a term loan for the benefit of the listed company, facilitated through Axis Bank Limited.

The security cover for this transaction amounts to ₹6,188,403,811, against an involved amount of ₹1,120,000,000. This indicates a ratio of A/B of 5.52. This action falls under events where encumbered shares represent more than 50% of promoter shareholding and over 20% of total share capital.

Specifically, R.N. Agarwal encumbered 7,978,105 shares (46.88% of total share capital), Reena Agarwal encumbered 4,538,861 shares (26.67% of total share capital), and Raunak Agarwal encumbered 32 shares (0.00% of total share capital). The disclosures were made to BSE Limited and National Stock Exchange of India Limited.