Magellanic Cloud Promoters Joseph Sudheer Reddy Thumma & Jagan Mohan Reddy Thumma have increased their pledged shareholdings in a series of recent transactions.

Joseph Sudheer Reddy Thumma (holding 39.62% stake) pledged an additional 73.89 lakh shares.

His total pledged shares now stand at 4.47 Cr shares, representing 19.32% of his total holding and 7.65% of Magellanic Cloud's total share capital.

Jagan Mohan Reddy Thumma (holding 8.04% stake) pledged another 23.80 lakh shares.

His total pledged shares are now 1.56 Cr shares, which is 33.13% of his total holding and 2.66% of Magellanic Cloud's total share capital.

These shares serve as collateral for loans.

Investors should note that increased promoter pledging can signal potential funding requirements.