The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on August 20, 2025 for Elgi Rubber Company Ltd
ELGIEQUIP · price
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Elgi Rubber Company Limited, part of the promoter group of Elgi Equipments, has released the pledge on 6,64,160 shares (0.21% of total share capital) that were earlier pledged with Federal Bank Limited. The pledge was originally created to secure a loan taken by Elgi Rubber Company Limited and was released on August 19, 2025. After this release, the entire promoter group holding of 9,88,54,180 shares (31.19% of share capital) is now free of any encumbrance — zero pledged shares remain. Other promoter group members including Jairam Varadaraj, Dark Horse Portfolio Investment, and various Varadaraj family entities were listed but had no pledged shares to report.
Positive development — the pledge release signals that Elgi Rubber Company has cleared its loan obligation with Federal Bank, eliminating any risk of forced sale. All 31.19% promoter holding is now fully unencumbered, strengthening the promoter group's clean equity position in Elgi Equipments.