The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for National Asset Reconstruction Company Ltd
SIMPLEXINF · price
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On the reaction day the stock moved 5.7 pts less than Nifty Microcap 250 and 4.5 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Simplex Infrastructures' promoter has created a pledge over 62,85,711 equity shares (about 9.35% of total share capital and 11.00% of diluted share/voting capital) in favour of National Asset Reconstruction Company Ltd (NARCL), the government-backed bad bank. The disclosure was filed on May 13, 2025 (transaction date May 8, 2025) by IDRCL as NARCL's power-of-attorney holder. NARCL, which is not part of the promoter group, already held 15% of Simplex directly as voting shares; with the new encumbrance, its total exposure (direct holding + pledged shares) rises to about 24.35% of share capital. The pledge appears linked to debt resolution, as NARCL typically acquires such pledges while resolving stressed assets.
For shareholders, this signals that the promoter is under financial pressure and has pledged a meaningful stake to a recovery agency, raising concerns over promoter control and potential dilution if the pledge is invoked. The stock may see negative sentiment due to heightened default and governance risk.