Paisalo promoter Santanu Agarwal pledges 2 million shares for margin credit

Paisalo Digital promoter Santanu Agarwal has encumbered an additional 2 million shares, or 0.22% of the company's equity, to secure a margin trading facility from Motilal Oswal Financial Services. The transaction, executed on May 21, marks an escalation in the promoter’s pledged position. His encumbered holdings now represent 12.97% of his stake, up from 7.8% previously. That jump of more than 5 percentage points sits above the 2-point threshold that usually flags rising debt pressure. The loan value of approximately ₹6 crore is small relative to the firm’s ₹4,536 crore market capitalization. This move is part of a pattern of recent activity by the founder group that has included both fresh pledging and share purchases. The next test is whether this trend of active pledging continues or if the promoter unwinds these positions in the coming months.