Promoters Kush Sureshbhai Patel and Kashyap Sureshbhai Patel have created a new encumbrance (pledge) on their equity shares in Rudra Gas Enterprise Limited, disclosed pursuant to SEBI Takeover Regulations 31(1) and 31(2).

Details of New Encumbrance (Creation Date: 05.06.2026)

  • Promoters Involved: Kush Sureshbhai Patel and Kashyap Sureshbhai Patel
  • Type of Event: Creation of encumbrance
  • Type of Encumbrance: Pledge
  • Number of Shares Encumbered: 440,000 shares each (total 880,000 shares)
  • Percentage of Total Capital: 5.28% each (total 10.56%)
  • Entity in Favor: Truepay Finance Private Limited (Formerly Known as Jain Finscap Private Limited)
  • Reason for Encumbrance: Availing finance to secure a loan of ₹3,00,00,000 (₹3 crore) in favor of the lender
  • Security Cover Ratio: 2.23:1 (Value of shares: ₹6,77,68,800 / Loan amount: ₹3,00,00,000)
  • End Use of Funds: The borrowed amount is utilized for the benefit of the listed company (Rudra Gas Enterprise Limited) for acquisition of shares of another company in a similar vertical

Promoter Holding Impact

Kush Sureshbhai Patel:

  • Pre-event holding: 2,015,700 shares (24.17% of total capital)
  • Already encumbered: 1,016,949 shares (12.20%)
  • New encumbrance: 440,000 shares (4.60%)
  • Post-event encumbered: 1,456,949 shares (17.47%)

Kashyap Sureshbhai Patel:

  • Pre-event holding: 2,016,700 shares (24.19% of total capital)
  • Already encumbered: 1,016,949 shares (12.20%)
  • New encumbrance: 440,000 shares (4.60%)
  • Post-event encumbered: 1,456,949 shares (17.47%)

Existing Encumbrance Details (Created: 19.03.2026)

  • Entity: Shree Kamdhenu Financial Services Private Limited (NBFC)
  • Shares Encumbered: 1,016,949 shares each by both promoters (total 2,033,898 shares)
  • Percentage of Total Capital: 12.20% each (total 24.40%)
  • Loan Amount: ₹7,00,00,000 (₹7 crore)
  • Security Cover Ratio: 1.85:1 (Value of shares: ₹13,01,69,472 / Loan amount: ₹7,00,00,000)

Aggregate Promoter Encumbrance Position

  • Total Promoter Shareholding: 6,102,800 shares (73.41% of total capital)
  • Total Encumbered Shares: 2,913,898 shares (34.95% of total capital)
  • Encumbered as % of Promoter Holding: 47.75%
  • Key Thresholds:
  • Encumbered shares are below 50% of total promoter holding (47.75%)
  • Encumbered shares exceed 20% of total share capital (34.95%)

Entity Information

  • Truepay Finance Private Limited is classified as an NBFC
  • The encumbrance is not related to any debt instruments (debentures, commercial paper, certificate of deposit, etc.)

#Tags: #RudraGasEnterprise #SharePledge #SEBIDisclosure #RegulatoryCompliance #PromoterHolding