Shraddha Prime Projects Promoter Pledges 70 Lakh Shares To HDFC Bank; Shares Slip 0.31%

Mumbai, March 13: Shraddha Prime Projects Limited informed the stock exchange that promoter Sudhir Balu Mehta has created a pledge on 70,00,000 equity shares in favour of HDFC Bank Limited, representing 17.33% of the company’s total paid up share capital, according to a revised disclosure submitted under SEBI regulations on March 12, 2026. The stock edged lower in trade following the filing.

Promoter Creates Pledge On 70,00,000 Shares

Shraddha Prime Projects Limited submitted a revised intimation to the Bombay Stock Exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 addressing a discrepancy relating to post event encumbered shareholding.

The company stated in the exchange disclosure that promoter Sudhir Balu Mehta had created a pledge on 70,00,000 equity shares of the company in favour of HDFC Bank Limited. The disclosure referenced a promoter filing dated February 28, 2026, under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

According to the promoter declaration, the encumbrance was created as security for a loan availed by Shraddha Housing Projects LLP from HDFC Bank Limited. Sudhir Balu Mehta, who is associated with the borrowing entity, pledged the shares as collateral against the financing arrangement.

Regulatory data included in the filing showed that the pledged shares represent 17.33% of the total paid up equity share capital of Shraddha Prime Projects Limited.

The promoter held 3,02,10,548 equity shares in the company prior to the transaction, equivalent to 74.78% of the total share capital, according to the disclosure submitted to the exchange.

Share Price Movement

Share price of Shraddha Prime Projects Limited traded marginally lower during the session on March 13, 2026.

The stock was trading at ₹162.50, down ₹0.50 or 0.31% for the day as of 10:56 IST, according to exchange data. The decline came as the market absorbed the regulatory disclosure relating to the promoter level pledge.

The stock opened at ₹164.00, touched a high of ₹164.00 and a low of ₹159.00 during the session so far.

Promoter share pledging is routinely monitored by market participants as it may indicate financing arrangements linked to promoter entities or project level funding structures.

Company Background

Shraddha Prime Projects Limited operates in the real estate development segment with a focus on residential and redevelopment projects, primarily in the Mumbai Metropolitan Region.

The company undertakes redevelopment of housing societies, residential construction and related real estate development activities. Projects are typically executed through various development agreements and joint development structures common within the Mumbai property market.

Promoter Sudhir Balu Mehta remains the controlling shareholder of the company through his substantial equity holding.

Conclusion

The revised exchange filing clarifies the creation of a pledge over 70,00,000 shares by promoter Sudhir Balu Mehta in favour of HDFC Bank Limited as security for a loan availed by Shraddha Housing Projects LLP.

While the pledged shares represent 17.33% of the company’s total equity capital, the promoter continues to hold a majority stake in the company. The disclosure was submitted in compliance with SEBI takeover regulations and LODR reporting requirements following communication from the exchange regarding disclosure reconciliation.

Source;

• https://www.bseindia.com/xml-data/corpfiling/AttachLive/542b92b1-7a5f-4237-a2c8-c73a84b41e99.pdf
• https://www.bseindia.com/corporates/anndet_new.aspx?newsid=859ab253-f95c-4879-aeea-784900286767