The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 13, 2026 for Vizag Profiles Pvt Ltd
STEELXIND · price
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Vizag Profiles Private Limited, a promoter of Steel Exchange India Ltd, has created a pledge on 5,00,00,000 shares (4.01% of total share capital) on March 11, 2026. The pledge has been given in favour of Agarwal Coal Corporation Private Limited, a private company in the coal import and supply business. The reason stated for the pledge is collateral for supply of materials on credit basis to the company or its group companies. After this pledge creation, total encumbered promoter shares stand at 24,32,77,520 (19.51% of total share capital). The encumbered shares are 7.89% of the total promoter shareholding, well below the 50% threshold, and total promoter holding remains at 50.80%.
This is a routine promoter pledge disclosure for operational credit purposes rather than for raising loans. The pledge size is relatively small (4% of share capital) and does not threaten promoter control, which stays above 50%. Shareholders need not be alarmed, but they should watch for any future pledge invocation events that could signal financial stress.