The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on December ....
STEELXIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 2.7 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Umashiv Garments Private Limited (holding 19.73% of Steel Exchange India) disclosed a pledge swap on 1,45,55,375 shares (1.17% of capital). The existing pledge on these shares was released because the earlier loan was fully repaid, and a fresh pledge on the same number of shares was created in favour of Catalyst Trusteeship Limited (Debenture Trustee) as collateral for debentures issued by group company Vizag Profiles Private Limited. Vizag Profiles raised ₹185 crore through 18,500 unrated, unlisted, secured, non-convertible debentures of ₹1 lakh each. Total promoter shareholding stands at 50.80%, of which only 2.30% is encumbered — well below the 50% promoter-pledge threshold. The net pledged position remains unchanged at 19.71% of capital.
This is essentially a debt refinancing at the group level — an old loan was repaid and replaced with a new debenture facility, leaving the overall pledge level unchanged. Neutral to mildly negative for shareholders because the new debt is unrated and unlisted, signalling reliance on private credit rather than rated instruments.