Promoters of Ruchi Soya pledges shares as collateral for the financial assistance of Rs 3,375 crore
Promoters of Ruchi Soya pledges shares as collateral for the financial assistance of Rs 3,375 crore

Divya Yog Mandir Trust (DYMT), one of the promoters of Ruchi Soya Industries pledged 6 crore equity shares, stated the company in its filing. This is collateral for the financial assistance of Rs 3,375.25 crore extended to the company.

The said shares are pledged in favour of SBICAP Trustee Company Limited (SBICAP), Security Trustee for the lenders namely State Bank of India, Union Bank of India, Syndicate Bank, Punjab National Bank and Allahabad Bank.

The company in its filing said, “With the approval of pledgee, the said shares were donated by DYMT in favour of Yogakshem Sansthan (YS). The YS has pledged the said shares in favour of SBICAP, Security Trustee for the lenders viz. State Bank of India, Union Bank of India, Syndicate Bank, Punjab National Bank and Allahabad Bank, as a part of collateral for the financial assistance extended to the Company on the same terms and conditions.”

Before pledging 6 crore equity shares or 20.28 per cent stake of the company (on April 30), the company promoters recently pledged 48.17 per cent stake on March 1, 2021. The value of 6 crore equity shares is Rs 12 crore.

Of the total share capital of 98.90 per cent with the promoters, the company promoters have pledged 98.87 per cent already. The value of 29. 58 crore shares is Rs 59.16 crore.

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