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MOS Utility promoter, Lalitaben Kurjibhai Rupareliya, has pledged 10,39,484 shares, representing 4.16% of the company's total share capital, to Akshay Ashok Patel on July 22, 2025. This creates an encumbrance on these shares, meaning they are likely used as collateral for a loan. Share pledges can indicate a promoter's liquidity needs and may increase risk for investors if the underlying loan faces issues.