Magellanic Cloud: Dennis Reddy Thumma Creates Pledge of 2.5 Lakh Shares

Dennis Reddy Thumma, a promoter of Magellanic Cloud Limited, created a pledge of 2.5 lakh shares, representing 0.042% of the total share capital, in favor of ICICI Bank Limited on May 22, 2025. This pledge serves as collateral for loans.

Details of Pledge CreationParticulars

Details

Promoter Name

Dennis Reddy ThummaTarget Company

Magellanic Cloud LimitedDate of Reporting

May 28, 2025Type of Event

Creation of PledgeDate of Creation

May 22, 2025Number of Shares Pledged

250,000% of Share Capital

0.042%Entity in Favor

ICICI Bank LimitedType of Encumbrance

Pledge (Collateral for loans)Promoter holding in the target company

34,141,740 shares, 5.84% of total share capitalPost event holding of encumbered shares

250,000 shares, 0.042% of total share capital

BackgroundMagellanic Cloud Limited, listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), is the target company. The disclosure was made on July 14, 2025, revising an original disclosure dated May 28, 2025, regarding the creation of the pledge.Promoter and PAC HoldingsAs of the reporting date, Dennis Reddy Thumma held 34,141,740 shares, representing 5.84% of the total share capital of Magellanic Cloud Limited. Other promoters and members of the Persons Acting in Concert (PAC) include Jagan Mohan Reddy Thumma, Joseph Sudheer Reddy Thumma, Boyapati Inna Reddy, and Innamma Thumma, holding significant portions of the company's shares.Details of EncumbranceThe creation of this pledge involves 250,000 shares, accounting for 0.042% of the total share capital. These shares are pledged to ICICI Bank Limited as collateral for loans.Regulatory ComplianceThis disclosure is made in compliance with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which mandates the intimation of creation of pledges on shares by promoters.