The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Energy II Ltd, Bermuda (PAC)
ESSARSHPNG · price
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Energy II Limited, Bermuda — a Person Acting in Concert (PAC) belonging to the promoter group of Essar Shipping Ltd — has disclosed the release of a pledge on 2,14,06,365 equity shares, representing 10.34% of the company's total share capital, on 10 December 2025. These shares were earlier pledged by IDH International Drilling Holdco Limited, Cyprus (formerly Essar Shipping & Logistics Limited) in favor of Energy II Ltd. After the release, the encumbrance on these shares stands removed, though the underlying holdings remain with the same promoter group entities. The total equity share capital of Essar Shipping remains unchanged at 2,06,97,60,720 shares.
Pledge release reduces the encumbered portion of promoter-held shares, signaling reduced financial stress or an improved credit position within the promoter group. This is generally viewed positively by retail investors as it lowers the risk of forced sale of pledged shares in the open market.