Ajay Relan 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.
SHARDAMOTR · price
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Ajay Relan, a promoter of Sharda Motor Industries, has submitted his annual disclosure under Regulation 31(4) of the SEBI Takeover Regulations for the financial year ended 31st March 2025. The declaration states that the promoter and promoter group, including persons acting in concert, have not created any encumbrance (pledge or lien) on their shares during the year. The promoter group's combined holding stood at 18,192,863 shares, representing 63.37% of the company's equity, with Ajay Relan alone holding 58.25%.
This is a positive signal for shareholders as it confirms the promoter group has not pledged any of their shares during the year, indicating financial stability and no pressure to use promoter holdings as collateral.