Rudra Gas Enterprise Shareholders Pledge Shares to NBFCs as Part of Financing Arrangements
Rudra Gas Enterprise Limited has seen its promoters encumber a total of over 30 lakh shares across two separate agreements with Non-Banking Financial Companies (NBFCs) in connection with financial arrangements. The pledges were executed by the company’s promoters, Kush Sureshbhai Patel and Kashyap Sureshbhai Patel.Rudra Gas Enterprise Limited maintains a promoter holding of 61,02,800 shares, representing 73.41% of its total share capital. The encumbrance details provided relate to two specific pledged agreements signed with financial entities.
Details of Encumbered Shares and Pledges
The pledges were made against loans from two different NBFCs: Truepay Finance Private Limited and Shree Kamdhenu Financial Services Private Limited. The following table outlines the specifics of each transaction, including the share counts and financial ratios at the time of the agreement.| Metric | Encumbrance 1 (with Truepay Finance) | Encumbrance 2 (with Shree Kamdhenu Financial Services) |
|---|---|---|
| Date of Event | June 05, 2026 | March 19, 2026 |
| Pledgor(s) | Kush Sureshbhai Patel and Kashyap Sureshbhai Patel | Kush Sureshbhai Patel and Kashyap Sureshbhai Patel |
| Total Shares Encumbered | 8,80,000 shares | 20,33,898 shares |
| Percentage of Total Share Capital | 4.60% | 12.20% |
| NBFC Lender Name | Truepay Finance Private Limited (Formerly Jain Finscap Private Limited) | Shree Kamdhenu Financial Services Private Limited |
| Amount Involved (B) | INR 3,00,00,000/- | INR 7,00,00,000/- |
| Value of Shares on Date (A) | INR 6,77,68,800/- | INR 13,01,69,472/- |
| Security Cover Ratio (A/B) | 2.23:1 | 1.85:1 |
Specific Details of Financial Arrangements
The agreements clarify the nature and purpose behind the encumbrance. Encumbrance 1, which occurred on June 05, 2026, involved the pledge by both promoters to Truepay Finance Private Limited (an NBFC). This arrangement was established to secure a loan totaling INR 3,00,00,000/-. The pledged shares accounted for 4.60% of the total share capital. For this transaction, Rudra Gas Enterprise Limited was confirmed to use the borrowed amount for the benefit of the listed company, specifically for the acquisition of Shares in another Company within a similar vertical.Encumbrance 2, dated March 19, 2026, involves the pledge of 20,33,898 shares to Shree Kamdhenu Financial Services Private Limited. This arrangement was made against an amount of INR 7,00,00,000/- and is secured by shares valued at INR 13,01,69,472/-, resulting in a security cover ratio of 1.85:1.
In both agreements, the promoters, Kush Sureshbhai Patel and Kashyap Sureshbhai Patel, acted as Pledgors.
Stock Price Movement
Shares of Rudra Gas Enterprise Ltd settled at ₹75.08 on Friday, marking a 2.51% decline.The trading range showed shares moving between a high of ₹77.01 and a low of ₹74.10 during the session.
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