SKIL Infrastructure Ltd (SKIL) — promoter pledge

Pledged promoter shares first appear in SKIL Infrastructure Ltd's Mar 2016 filing, covering 92% of promoter holding. The share of promoter holding pledged peaked at 92% (60.9% of total equity), most recently in Mar 2016, against 69.8% in Sep 2023. A year earlier, in Sep 2022, the figure was 69.8%. A pledge is reported in 31 of the 31 quarters of promoter shareholding data Solomo holds for this company.

9 members of the promoter group report pledged shares in Sep 2023: Metropolitan Industries (30.96% of the company, 87.2% of it pledged), Sudipan Bhaduri, Jay Mehta, Ketan Shah (Trustee of HCWLL Trust) (3.51% of the company, 100% of it pledged), Montana Infrastructure Limited (13.78% of the company, 14.7% of it pledged) and 6 others.

Ranked by share of promoter holding pledged, SKIL Infrastructure Ltd is #80 of the 563 listed Indian companies whose latest quarterly filing reports any pledged promoter shares.

A promoter pledge means a promoter has put their own shares up as collateral, usually against a loan. It is legal and common, and SEBI requires it to be disclosed every quarter in the shareholding pattern. It matters to other shareholders because a sharp fall in the share price can trigger a margin call: if the promoter cannot top up the collateral, the lender can invoke the pledge and sell those shares in the open market, which adds selling pressure to an already falling price and, at high pledge levels, can change who controls the company. The percentage on its own is not a verdict — the level, the direction of travel and what the borrowing funded all matter.