Promoters have raised more than 7 trillion against their shareholdings in companies listed on NSE. [2] To meet their capital needs -as of June 26 [3] Such borrowings are typically used from personal funding and acquisitions to incressing promoter’s stakes in their own listed companies [4] 7 trillion so mobilised cover both pledged shares and shares under non disposal undertaking [ NDU ] – – The latter enables borrowing without pledging but the promoter promises not sell or transfer the shares against which they have borrowed– Courtesy BS