MSP Steel & Power Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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MSP Steel & Power Limited's promoter group, led by Mr. Saket Agrawal, has submitted a disclosure under SEBI's Takeover Regulations confirming details of shares pledged by the promoter group as on 31st March 2025. The promoter group holds 19,97,49,330 shares (35.24% of total share capital), of which 16,24,60,359 shares (28.66% of total share capital, or about 81% of promoter holdings) are pledged in favor of SBICAP Trustee Company Limited, the security trustee for a consortium of lenders led by State Bank of India. The pledge is part of a loan restructuring package. The company confirmed that no new encumbrance was created during FY 2024-25 beyond what is already disclosed. The disclosure was furnished because the aggregate pledged promoter holding exceeds the threshold requiring such reporting.
Shareholders should note that a very high portion (~81%) of the promoter group's stake is pledged as collateral for debt restructuring, which is a significant risk factor — any default could lead to the pledged shares being sold, potentially impacting stock price and promoter control. Promoter holding remains below the majority threshold at 35.24%, leaving the company vulnerable to takeovers.