D L MILLAR & CO LTD has submitted to the Exchange a copy of Disclosure for release of encumbrance of shares in terms of Regulations 31(1) and 31(2) of SEBI ( SAST) Regulations, 2011.
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D L Millar & Co Ltd, a member of the promoter group of Premier Polyfilm Limited, has submitted a disclosure to NSE confirming the release of encumbrance on certain shares of the company. The filing was made under Regulations 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which govern disclosures related to encumbrance of shares by promoters. The exact number of shares released and the outstanding pledged balance have not been specified in the headline. This indicates a reduction in the pledge burden on the promoter group's holdings.
Release of pledged shares is generally a positive signal for shareholders, as it reduces financial stress on the promoter group and lowers the risk of forced sale of shares. The stock may see a modestly positive short-term sentiment, though investors should look for the detailed disclosure to assess the scale of the release.