The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on June 21, 2025 for Arvind Jayaswal & Others
JAYNECOIND · price
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Jayaswal Neco Industries promoters and persons acting in concert (PACs) have filed a revised disclosure with BSE/NSE regarding pledge of their shares originally created on May 23, 2022. The pledge covers 46,63,86,174 equity shares (48.03% of total share capital), representing 97.08% of the total promoter shareholding of 49.48%. The shares were pledged in favour of IDBI Trusteeship Services Limited for the benefit of 11 ACRE Trusts (ACRE being an asset reconstruction company) as collateral for the company's restructured debt facilities of Rs. 4,695.76 crore. The security cover value of pledged shares was Rs. 1,072.69 crore (asset cover ratio of 0.23). The pledge is linked to the company's debt restructuring under a Restructuring Support Agreement signed on August 23, 2021. The disclosure is being made voluntarily even though, under SEBI's 2021 amendment, such disclosures are no longer mandatory for pledges created in a depository post-April 1, 2022.
Nearly all promoter shares (97%) are pledged against company debt, signaling high financial leverage and limited free promoter float. With promoter holding at 49.48%, any invocation of pledge could trigger a change in control or further share price pressure. Investors should monitor the company's debt restructuring progress closely.