Mahendra Sanghvi 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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Mahendra Sanghvi, authorised signatory, has submitted a disclosure on behalf of the Promoters/Promoter Group of Shaily Engineering Plastics Limited. The disclosure confirms that promoters collectively hold 1,99,42,600 equity shares representing 43.40% of the company's total shareholding as of 31st March 2026. Importantly, the promoters have declared NIL encumbrance on their shares, meaning no shares are pledged or encumbered either directly or indirectly during the financial year ended 31st March 2026. A list of 14 entities in the Promoter/Promoter Group has been attached to the disclosure.
The NIL encumbrance declaration is a positive signal for shareholders as it indicates promoters have not pledged their shares for loans or other purposes, reducing risk of potential forced selling. However, promoter holding at 43.40% remains below the 50% threshold.