The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
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Awaiting price reaction for this filing.
Catalyst Trusteeship Ltd, acting as debenture trustee for debenture holders of Vizag Profiles Private Limited, has released 18,61,55,375 (about 18.62 crore) pledged equity shares of Steel Exchange India Ltd on February 24, 2026. Before the release, these shares represented 14.93% of the company's total share capital and were held as encumbered shares. After the release, the encumbered holding stands reduced to NIL. The shares were originally pledged by Vizag Profiles Private Limited as security for its debentures, and the debenture trustee is the entity filing this disclosure under SEBI takeover regulations. The total share capital of the company remains unchanged at around 124.72 crore equity shares of Re.1 each.
This pledge release reduces the encumbrance burden on the company from 14.93% to zero, which is generally seen as a positive signal as it removes the overhang risk of potential forced sale of pledged shares. However, investors should note that the pledgor (Vizag Profiles Pvt Ltd) is not confirmed as part of the promoter group in this filing.