Navin Fluorine International Limited has informed the Exchange about General Updates
NAVINFLUOR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Navin Fluorine International has informed the exchanges that the remaining 1,50,000 equity shares (face value ₹2 each) of the company, held by promoter Mafatlal Impex Private Limited and pledged with State Bank of India, have been released. This follows the earlier release of 3,00,000 shares in August 2024, meaning the entire 4,50,000 shares that were pledged by the promoter are now free of any encumbrance. With this full release, the Amended and Restated Pledge Agreement dated August 14, 2024 has automatically come to an end. The company confirmed that promoters' equity shares are now completely free of any pledge.
Positive for shareholders — the complete removal of the pledge on all promoter-held shares eliminates the overhang and risk of forced selling, improving sentiment around promoter confidence in the company.