Mac Charles India Ltd — Insider Trading, 01-01-1970: Insider Trading / SAST

Embassy Property Developments, a promoter of Mac Charles (India), has pledged 66,81,537 equity shares, representing 51% of the company's total share capital. This encumbrance secures non-convertible debentures worth 270 Crore issued by Calatheas Developments Private Limited, a related entity. The pledged shares are valued at approximately 464.20 Crore. The funds will be utilized for an inter-corporate loan to Embassy Maverick Malls Private Limited for project costs and general corporate purposes. A key condition states that if the promoter's ownership in Mac Charles drops below 51%, the debt becomes repayable. This move by the promoter uses their significant stake in Mac Charles as collateral for external financing.