Jai Balaji Industries shares hit 52-week low after this stock pledge update

Stock market today: Jai Balaji Industries share price tanked nearly 4% to ₹147.55 apiece on Wednesday, January 22 following an update regarding the share pledge by the company.

Shares of Jai Balaji Industries are pledged with Catalyst Trusteeship, which is acting as a security trustee on behalf of the lenders. Following the split of the company's shares in the ratio of 1:5, the number of shares pledged with Catalyst Trusteeship increased fivefold.

Catalyst Trusteeship held 15,39,11,165 shares of Jai Balaji Industries as against 3,07,82,233 shares ahead of the stock split in the ratio of 1:5. However, the percentage of shareholding remained the same at 16.88%, with the value of equity capital pledged also remaining constant post the acquisition at ₹182.45 crore. The said acquisition of shares was carried out on January 18, 2025.

Enfield Suppliers, Hari Management, KD Jagodia Steel Industries, Jai Salasar Balaji Industries, Sanjiv Jajodia and Rajiv Jajodia have pledged shares of Jai Balaji Industries with the lenders.

Stock Impact

Shares of Jai Balaji Industries declined 3.75% to ₹147.55 apiece, also their 52-week low, following the update. The stock's 52-week high stood at ₹261.40, which it touched in February last year.

The company has fared poorly over the last few months, declining 10% in six months, 33% in three months and 20% in a month. Even on a one-year basis, Jai Balaji shares' performance has been unimpressive as the stock has shed 26% during this period.

Jai Balaji Industries has a market capitalisation of ₹13,500 crore.

Jai Balaji Industries Stock Split Details

The company in November 2024 had approved sub-division of equity shares of the face value of ₹10 each into five equity shares of the face value of ₹2 each.

It had fixed January 17 as the record date for determining the eligibility of shareholders for the said stock split.

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