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

Mac Charles (India) Limited's promoter, Embassy Property Developments Private Limited, has pledged 6,681,537 equity shares, accounting for 51% of Mac Charles's total share capital. This pledge, representing 69.47% of the promoter's holding, secures unlisted non-convertible debentures issued by Calatheas Developments Private Limited, valued at 270 Cr. The pledged shares are valued at 464.20 Cr, offering a security cover of 1.72. The borrowed funds will be utilized for an inter-corporate loan to Embassy Maverick Malls Private Limited for project costs, general corporate purposes, and debenture issue expenses. This highlights the promoter's financing strategy, using its stake in Mac Charles as collateral.