The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 02, 2025 for Virtuous Tradecorp Pvt Ltd
JINDALSTEL · price
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Virtuous Tradecorp Pvt Ltd, part of the promoter group of Jindal Steel & Power Limited, has released a pledge on 39,00,000 shares (0.38% of total share capital). The release was reported on March 28, 2025, with the event date being March 24, 2025. The pledge was originally created to secure Non-Convertible Debentures (NCDs) issued by the company, with Standard Chartered Bank (Mauritius) Limited acting on behalf of the NCD holder and Axis Trustee Services as debenture trustee. After this release, Virtuous Tradecorp's encumbered shares stand reduced from 1,81,35,500 (1.78%) to 1,42,35,500 (1.40%) of total share capital. The total promoter holding remains at 6,43,95,867 shares (6.31%).
This is a positive signal for shareholders as a pledge release reduces the risk of forced selling of promoter shares. It indicates either repayment of the underlying NCD obligation or improved confidence in retaining the shares, slightly easing concerns about encumbered promoter holdings.