Afcons Infrastructure Limited has issued a clarification to BSE Limited regarding volume movement in its shares, stating that no material information requires disclosure under current regulations.

BSE Inquiry Response

The company responded to BSE's inquiry dated March 13, 2026, with reference number L/SURV/ONL/PV/SG/2025-2026/974. In its official communication, Afcons Infrastructure clarified that as of the date, there is no information that needs to be disseminated to stock exchanges pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance Statement

Company Secretary and Compliance Officer Gaurang Parekh (Membership No.: F8764) emphasized the company's commitment to regulatory compliance. The communication highlighted that information and announcements are made to stock exchanges when disclosure is required to be made public as per listing regulation requirements.

Governance Standards

The company reaffirmed its commitment to maintaining governance standards and making timely disclosures. Afcons Infrastructure noted that all information communicated to stock exchanges is hosted on the company's official website at the dedicated corporate announcements section.

Information Accessibility

Stakeholders can access all stock exchange communications and corporate announcements through the company's website. This ensures transparency and easy access to regulatory filings and disclosures for investors and market participants.

Shapoorji Pallonji and Company Private Limited has filed a revised disclosure with stock exchanges regarding the pledge of equity shares in Afcons Infrastructure Limited, addressing regulatory compliance requirements under SEBI takeover regulations. The company submitted the revised disclosure on March 10, 2026, following feedback from stock exchanges regarding the initial filing made on February 17, 2026.

Revised Disclosure Details

The revision specifically addresses the requirement to include lender name details in the pledge disclosure documentation, as highlighted by the stock exchanges in their communication dated March 10, 2026. The company has now provided comprehensive details about the encumbrance arrangement.

Shareholding and Encumbrance Structure

Shapoorji Pallonji and Company Private Limited maintains a significant stake in Afcons Infrastructure Limited with comprehensive encumbrance arrangements across its holdings. The latest pledge brings the total encumbered shareholding to substantial levels.

Multiple Encumbrance Events

The disclosure reveals a complex structure of pledge arrangements with different entities and purposes. The company has encumbered shares through multiple events, with the latest pledge created in favor of Catalyst Trusteeship Limited for working capital requirements from JM Financial Credit Solutions Limited along with other investors.

Previous Encumbrance Details

The earlier encumbrance of 4,44,46,470 shares was created on June 25, 2025, representing a second charge arrangement. This was in addition to an initial first charge created on November 07, 2024, in favor of Catalyst Trusteeship Limited (Trustee) and Housing Development Finance Corporation Limited (Lender).

Valuation and Security Cover

The pledged shares carry substantial value based on market prices at the time of encumbrance creation. The valuation details demonstrate adequate security cover for the underlying obligations.

Regulatory Compliance

The revised disclosure demonstrates the company's commitment to meeting SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 requirements. The document was signed by R M Nentin, Director (DIN: 00004884), ensuring proper authorization and compliance with regulatory standards. The disclosure confirms that more than 50% of Shapoorji Pallonji's shareholding in Afcons Infrastructure Limited has been encumbered, triggering enhanced disclosure requirements under securities regulations.