The Exchange has received the revised disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on August 06, 2025 for Baba Basuki ....
SIMPLEXINF · price
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Awaiting price reaction for this filing.
Promoter Baba Basuki Distributors Private Limited has submitted a revised disclosure (original filed on 02-Aug-2025) regarding creation of a pledge on shares of Simplex Infrastructures Limited on 30-Jul-2025. The pledge is in favour of National Asset Reconstruction Company Limited (NARCL) and pertains to 6,285,711 shares (7.95% of total share capital). The reason stated is that the pledge was created pursuant to a Master Restructuring Agreement signed between Simplex Infrastructures Limited and NARCL. The promoter Baba Basuki holds 10,800,264 shares (13.65% of the company), and a large portion of this holding is now encumbered. This filing was made after BSE/NSE requested the reason for encumbrance, which was missing in the original disclosure.
This signals that Simplex Infrastructures is undergoing debt restructuring with NARCL (a government-backed bad bank), with promoter shares being pledged as collateral. While restructuring can eventually ease debt burden, it also highlights the company's financial stress and the promoter's limited free float, which may weigh on stock sentiment in the near term.