Borosil Renewables Limited has announced that its Promoter & Vice Chairman, Mr. Shreevar Kheruka, has increased his shareholding in the company through a market purchase transaction on the National Stock Exchange. The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The share acquisition transaction was completed on March 30, 2026, with the company receiving intimation on March 31, 2026. The following table summarizes the key transaction details:

Individual Shareholding Changes

The acquisition has resulted in a marginal increase in Mr. Kheruka's individual stake in the company. His personal shareholding position before and after the transaction is detailed below:

Promoter Group Holdings

The comprehensive promoter group holdings, including persons acting in concert (PAC), show the overall control structure of the company:

Share Capital Structure

The company's equity share capital remains unchanged at 14,01,88,845 equity shares of Re.1 each. The total diluted share capital, considering outstanding warrants and ESOPs, stands at 14,79,15,982 equity shares based on the shareholding pattern filed for the quarter ended December 31, 2025.

Regulatory Compliance

The disclosure was made pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Mr. Kheruka, serving as Promoter & Vice Chairman, submitted the required documentation to both BSE Limited and National Stock Exchange of India Limited on March 31, 2026.

Market Transaction

The shares were acquired through regular market operations on the NSE, indicating an open market purchase rather than through any preferential allotment or inter-se transfer. The transaction demonstrates continued confidence in the company's prospects by its key leadership.

Borosil Renewables Limited has received an updated credit rating communication from India Ratings & Research Private Limited, providing detailed bank-wise facility information while maintaining unchanged overall credit facilities. The company notified both BSE and NSE on March 10, 2026, regarding this regulatory update.

Rating Update Details

The rating letter, dated March 09, 2026, represents a follow-up to the company's previous rating communication from December 30, 2025. In the earlier update, India Ratings had affirmed the company's ratings and improved the outlook from negative to positive. The current communication specifically focuses on providing a comprehensive breakdown of bank-wise facilities without altering the overall facility structure.

Company Secretary and Compliance Officer Kishor Talreja signed the regulatory filing, confirming that the rating information was received by the company on March 10, 2026, at approximately 14:54 p.m.

Bank-wise Facility Breakdown

The updated rating covers facilities across four major banking institutions, with a total value of INR 7271.40 million:

Facility Distribution Analysis

The facility structure shows a diversified banking relationship across multiple institutions. HDFC Bank Limited holds the largest exposure with facilities totaling INR 3432.50 million, followed by Kotak Mahindra Bank with INR 2481.90 million. IndusInd Bank Limited maintains facilities worth INR 1007.00 million, while HSBC has the smallest exposure at INR 350.00 million.

Rating Methodology and Compliance

India Ratings emphasized in their communication that the ratings are based on established criteria and methodologies that undergo continuous evaluation and updating. The rating agency noted that ratings represent collective work product and are not recommendations for investment decisions. The agency also highlighted the importance of receiving material information promptly to ensure ratings remain appropriate.

The rating update maintains compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparent communication with stakeholders regarding material credit rating developments.