The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vistra ITCL (India) Ltd

Pledge Above 50pctOwnership Changes View source PDF Explain this filing

JAYNECOIND · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-5.0%Reaction day

₹92.24

prior close

₹91.60

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+1.4%-6.4% vs market

Iron & Steel Products peers, median of 94sector+1.2%-6.3% vs sector

On the reaction day the stock moved 6.4 pts less than Nifty Microcap 250 and 6.3 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-3.9

10m

-3.5

15m

-3.3

30m

-2.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.0+1.4-6.4+1.2-6.3

Next day

-5.7+1.6-7.3+1.2-6.9

-1.0+2.6-3.6+1.7-2.7

+0.2+2.8-2.6+1.2-1.0

-1.4+2.1-3.5+1.1-2.5

-2.2+2.2-4.3+1.0-3.2

-9.4-1.5-7.8-2.8-6.6

15d

-19.3-5.7-13.6-6.9-12.4

-21.2-5.5-15.6-7.6-13.6

-17.6-6.3-11.3-6.4-11.3

-19.0-11.1-7.9-13.6-5.4

UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 94Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The Promoter and Promoter Group of Jayaswal Neco Industries Ltd have agreed to pledge 53,48,04,690 equity shares (55.08% of the total share capital) in favour of Vistra ITCL (India) Ltd, which is acting as a debenture trustee for certain identified debenture holders. The agreement was reached on 26 December 2025 and disclosed on 30 December 2025. The promoters collectively hold 53,55,19,366 shares (55.15% of total), meaning almost their entire stake is being encumbered. Vistra ITCL is not part of the promoter group, and no shares were bought or sold — this is purely a creation of encumbrance (pledge) as security for debenture obligations.

Likely market impact

Pledging over 55% of the company's total equity by promoters is a significant red flag indicating high financial leverage. If the promoters default on the underlying debenture obligations, the pledged shares could be invoked and sold in the market, creating potential share price pressure. Retail investors should monitor the company's debt situation and any updates on the underlying obligation closely.