JKB Financial Services Ltd.

As on : 31-Oct-2026

Corporate News
31-Oct-2026 11:16

Medplus pledged and released shares valued over Rs 139 crore linked to NCDs

Medplus Health Services Limited has engaged in a series of pledge and release transactions involving its equity shares, primarily to secure Non-Convertible Debentures (NCDs) issued by Agilemed Investments Private Limited and Lone Furrow Investments Private Limited. Between December 2023 and February 2024, the company pledged shares valued at a total of over Rs 139 crore, with additional pledges in September and October 2026 totaling 23 lakh shares to maintain Security Cover Ratios. Promoter Madhukar Reddy Gangadi was involved in these transactions, which were partly intended to retire existing NCDs and maintain the SCR without fresh borrowing. Significant share releases occurred on August 21, 2024, valued at approximately Rs 4.39 crore, and December 24, 2025, valued at roughly Rs 3.42 crore, based on closing prices at the time. The transactions are linked to a NCLT-sanctioned amalgamation that transferred NCDs between the two issuing entities.

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