Sachit Jain has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
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Sachit Jain, a promoter of Vardhman Special Steels Limited, has submitted a declaration under SEBI Regulation 31(4) of the Takeover Regulations. The disclosure confirms that the Promoters along with Persons Acting in Concert (PAC) have NOT created any encumbrance, either directly or indirectly, on their shareholding in the company during the financial year 2025-26. This is a negative declaration filing that provides transparency about the promoter shareholding structure remaining free of any pledge or charge.
This is a positive disclosure for minority shareholders. Unencumbered promoter shares indicate that promoters have not leveraged their stake through borrowed funds against share collateral, reducing the risk of forced selling pressure from the promoter category and reflecting a stable shareholding structure.