The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shirdi Sai Electricals Ltd
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Shirdi Sai Electricals Ltd, part of the promoter group of Indo Tech Transformers Ltd, has released a pledge on 15,00,000 equity shares (14.12% of the company). The shares were earlier pledged with SBICAP Trustee Company Ltd on behalf of State Bank of India as security for a loan, and all outstanding dues have now been fully repaid. Before the release, the promoter group's encumbered holding stood at 60,66,036 shares (57.12%); after the release, it drops to 45,66,036 shares (42.99%). The total promoter group voting holding remains unchanged at 79,65,000 shares (75%).
This is a positive signal — the promoter group has cleared its loan obligations with SBI, freeing up 14.12% of shares from encumbrance. Lower pledged holdings reduce the risk of a forced sale and improve the financial standing of the promoter group, which is generally viewed favorably by retail investors.