Sadbhav Engineering shares fall 5% after promoter pledges nearly 32 lakh shares

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26 Aug, 2025 12:21

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Shares of Sadbhav Engineering fell almost 5 percent in intraday trade on BSE on September 17, a day after the company said promoter entity Shashin V Patel created a pledge of 1.85 percent of total paid-up equity of the company.

In a BSE filing on September 16, the company said Patel created a pledge of 31,83,333 shares of the company on September 14.

Besides, the company said rating agency India Ratings and Research (Ind-Ra) affirmed ratings on the company's loan, working capital facilities and NCDs.

As per a BSE filing on September 17, Ind-Ra affirmed 'IND A-/Stable' on the company's long-term loan and term loan facilities.

For the company's Rs 150 crore non-convertible debenture (NCDs), Ind-Ra has 'IND A-/Stable' rating.

Shares of the company traded 3.61 percent lower at Rs 56.15 on BSE at 13:05 hours.