The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on February 06, 2026 for VSL Ventures Pvt Ltd
VIKRAMSOLR · price
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VSL Ventures Private Limited, a promoter group entity of Vikram Solar, has refinanced its existing loan by replacing multiple lenders (360 One Income Opportunities Fund, SMMS Trust, True North Credit Opportunities Fund, and Incred Credit Opportunities Fund) with Aditya Birla Capital Limited on commercially favourable terms. As part of this, 1,50,99,750 equity shares (4.17% of total share capital) were released from the earlier pledge on February 4, 2026, and the same quantity was re-pledged with Aditya Birla Capital on February 5, 2026. Total promoter group encumbrance stands at 22.83 crore shares, or 63.01% of total share capital, with ₹2,600 crore borrowed against these shares for working capital needs of Vikram Solar.
This is essentially a lender swap with no change in the number of pledged shares or promoter shareholding. Refinancing on better terms is marginally positive as it may lower interest costs, but the high overall pledge level (63% of share capital) remains a risk factor to monitor.