MSTC Limited has submitted a formal declaration to stock exchanges confirming that it does not qualify as a Large Corporate under the SEBI regulatory framework. The declaration was made pursuant to SEBI circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, which establishes criteria for identifying large corporates in the Indian financial market.

Regulatory Compliance Declaration

The government enterprise communicated its status to both BSE Limited and National Stock Exchange of India Limited through a formal letter dated 9th April, 2026. The declaration was signed by Ajay Kumar Rai, Company Secretary & Compliance Officer, and Subrata Sarkar, Director (Finance) & CFO, ensuring proper authorization and compliance oversight.

Financial Position and Credit Rating

MSTC Limited provided detailed information about its financial standing as part of the declaration requirements:

The company reported nil outstanding borrowings as on 31st March 2026, which appears to be a key factor in its classification as a non-large corporate under the SEBI framework. The maintenance of an A1+ credit rating from Acuité Ratings & Research Limited demonstrates the company's strong creditworthiness despite not meeting the large corporate criteria.

SEBI Framework Implications

The SEBI circular SEBI/HO/DDHS/P/CIR/2021/613 establishes specific applicability criteria for determining large corporate status, which impacts various regulatory requirements and compliance obligations. Companies that do not meet these criteria, such as MSTC Limited, are required to make formal declarations to maintain transparency with stock exchanges and investors.

The declaration serves as an official record for both BSE (Scrip Code: 542597) and NSE (Scrip Code: MSTCLTD), ensuring that the company's regulatory status is clearly communicated to all stakeholders. This compliance measure helps maintain market transparency and ensures proper categorization of listed entities under the SEBI regulatory framework.

MSTC Limited has submitted its mandatory regulatory disclosure to stock exchanges, confirming compliance with SEBI takeover regulations for the financial year ended March 31, 2026. The disclosure addresses promoter equity holdings and encumbrance status as required under securities regulations.

Regulatory Disclosure Details

The company filed its disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates specific disclosures regarding substantial acquisitions and promoter holdings in listed companies.

Promoter Holdings Status

The disclosure confirms that the Hon'ble President of India, acting through and represented by the Ministry of Steel, Government of India, has maintained its promoter status without any encumbrance activities during FY26. The filing specifically states that the promoter, along with any person acting in concert, has not made any encumbrance on its equity holding in MSTC Limited, either directly or indirectly, during the financial year.

Exchange Communications

MSTC Limited submitted the disclosure to both major Indian stock exchanges where its shares are listed. The company communicated with the National Stock Exchange of India Limited at Exchange Plaza, Bandra Kurla Complex, and BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street.

Corporate Governance Compliance

The filing represents part of MSTC Limited's ongoing compliance with corporate governance requirements and securities regulations. As a government enterprise under the Ministry of Steel, the company maintains regular disclosure practices to ensure transparency with stakeholders and regulatory authorities.

The disclosure was signed by Ashwini Kumar, Economic Adviser at the Ministry of Steel, on behalf of the promoter, demonstrating the government's continued oversight and compliance with securities market regulations.