The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Basant Lall Shaw & Others
JAYNECOIND · price
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Awaiting price reaction for this filing.
The promoter and promoter group of Jayaswal Neco Industries Ltd filed a revised disclosure for an off-market share purchase carried out on 26 December 2023, originally disclosed on 28 December 2023. The promoters bought 4,84,52,760 equity shares, equal to 4.99% of the company's share capital, taking their total voting holding from 49.48% (48.04 crore shares) to 54.47% (52.88 crore shares). The transaction was an off-market, inter-se transfer among promoter-group entities. Notably, 46.63 crore shares (48.03% of total capital) remain pledged/encumbered, meaning nearly 88% of the promoter holding is still under pledge. The company's total equity capital remains unchanged at 9.70 crore shares of ₹10 each.
This is a promoter-group consolidation that pushes their stake above the 50% mark, reinforcing majority control. However, the extremely high pledge ratio (~88% of promoter holding) remains a significant overhang for retail investors, as any pledge invocation could pressure the stock.