Shares and the city a pledge with a plot twist at SABTN

MUMBAI: When promoters make a move, the market always tunes in and this one comes with a pledge. Sri Adhikari Brothers Television Network Limited (SABTN) informed stock exchanges that promoter Kurjibhai Premjibhai Rupareliya has pledged 25,00,000 equity shares of the company, according to disclosures filed under Regulation 31 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The encumbrance was created on 31 December 2025 and formally reported on 1 January 2026. The pledged shares represent 9.85 per cent of SABTN’s total share capital and an equivalent 9.85 per cent of the promoter’s holding in the company.

Post the transaction, Rupareliya continues to hold 1,50,00,237 shares, amounting to 59.12 per cent of SABTN’s equity. The disclosure confirms that the encumbrance does not cross the regulatory thresholds of either 50 per cent of promoter holding or 20 per cent of the company’s total share capital.

The shares have been pledged in favour of Motilal Oswal Finvest Limited, a scheduled financial institution. As per the filing, the funds raised against the pledge amounting to Rs 100 crore are intended for personal use by the promoter, with no involvement of the listed company or its group entities in the transaction.

The valuation of the pledged shares at the time of the event stood at Rs 400 crore, translating to a security cover ratio of 0.25. The disclosure also clarified that the encumbrance is not linked to any listed debt instrument, debenture or commercial paper.

The filing, submitted to both BSE Limited and the National Stock Exchange of India, brings transparency to a routine but closely watched promoter action, one that investors typically track for signals on leverage, confidence and future intent.

For now, the numbers are clear, the paperwork is in place, and the market has been duly informed.