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

Pledge releasedOwnership Changes View source PDF Explain this filing

NRAIL · 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

-2.6%Reaction day

₹472.50

prior close

₹467.35

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%-3.8% vs market

Paper & Paper Products peers, median of 36sector+1.5%-4.1% vs sector

On the reaction day the stock moved 3.8 pts less than Nifty Microcap 250 and 4.1 pts less than its Paper & Paper 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

+0.2

10m

-0.0

15m

-0.0

30m

-0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.6+1.3-3.8+1.5-4.1

Next day

+6.0+2.6+3.4+2.5+3.6

+4.8+2.7+2.1+2.8+2.0

+3.8+2.1+1.6+2.1+1.7

-0.4+1.6-2.0+1.0-1.4

+0.5+0.8-0.3+0.4+0.1

+1.6+2.2-0.6+0.6+1.0

15d

-6.3-1.6-4.7-1.4-4.9

-4.3-3.0-1.3-4.2-0.2

-9.3-1.6-7.7-2.0-7.3

-13.4-10.5-3.0-16.4+3.0

UpDownMarket · Nifty Microcap 250Sector · Paper & Paper Products peers, median of 36Pending

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

AI summary

SBICAP Trustee Company Ltd (STCL), acting as Security Trustee, has released the pledge on 1,25,16,998 equity shares of NR Agarwal Industries Limited belonging to the promoters. These pledged shares represented 73.55% of the company's total share capital (1,70,19,100 shares). The date of release was December 16, 2025. After the release, STCL holds zero shares as encumbrance. STCL clarified that it is not a promoter and only acts as a trustee holding the security on behalf of lenders.

Likely market impact

This is a positive development for shareholders — the release of such a large pledge (over 73% of the company) eliminates the risk of forced share sales if promoters had defaulted on loans, suggesting improved financial standing or successful loan repayment by the promoter group.