Shirpur Gold Refinery Limited 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.
Awaiting price reaction for this filing.
Shirpur Gold Refinery Limited, which is under Corporate Insolvency Resolution Process (CIRP) since June 2024 with Ashish Vyas as Resolution Professional, has submitted a disclosure from its promoter Jayneer Infrapower & Multiventures Private Limited. As of March 31, 2025, the promoter holds 1,27,20,703 equity shares representing 43.66% of the total share capital. The promoter has declared that no new encumbrances (such as pledges) were created on its shares during FY 2024-25, other than those already disclosed earlier. The filing is a routine annual compliance requirement under SEBI takeover norms, applicable because the promoter is classified as a 'person acting in concert' holding more than 25%.
This is a neutral, routine compliance filing — no new pledges or encumbrances were created by the promoter, which is slightly reassuring. However, the promoter holding at 43.66% is below the 50% threshold, meaning any successful insolvency resolution plan could lead to significant change in ownership and control of the company.