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 March ....
STEELXIND · price
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Promoter Vizag Profiles Private Limited has created a new pledge of 5,00,00,000 shares (4.01% of total share capital) of Steel Exchange India Ltd on March 11, 2026. The shares were pledged with Agarwal Coal Corporation Private Limited, a private coal importer and supplier, not a scheduled bank or financial institution. The stated reason is collateral for supply of materials on credit basis to the Company/Group Companies. After this pledge, total encumbered promoter shares rise to 24,32,77,520 (19.51% of total share capital), which is 7.89% of total promoter shareholding. The promoter group continues to hold 63,35,95,550 shares, or 50.80% of the company, and the encumbrance is well below the 50% of promoter holding and 20% of total share capital thresholds.
This is an operational pledge tied to trade credit arrangements with a supplier rather than a debt-funded promoter action, which is generally less concerning. Promoter control at 50.80% remains intact and encumbrance levels are moderate, so near-term impact on shareholders is limited, though pledging shares with a non-financial trade creditor is a point worth watching for governance reasons.