The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Visa International Ltd
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Visa International Limited has disclosed the release of pledge on 2,37,87,833 equity shares of Visa Steel Limited under SEBI SAST Regulations. Before the release, all 2,37,87,833 shares (16.32% of total capital) were encumbered or pledged. After the pledge release, these shares remain held by Visa International but are no longer under encumbrance, with the closing balance of encumbered shares now at zero. The total share capital of Visa Steel Limited is 14,57,89,500 equity shares of Rs. 10 each. This indicates that a lending arrangement or security against those shares has been fully discharged.
The pledge release removes an encumbrance on shares held by Visa International, potentially improving their ability to trade or encumber these shares in the future. This is a positive development for shareholders as it reduces debt-related risk on the promoter holding.