United Steel Allied Industries Private Limited, the promoter group of Oil Country Tubular Limited , holds 47.23% of the equity shares as of March 31, 2026. The disclosure was submitted to the stock exchanges in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms the shareholding status of the promoter and promoter group shareholders for the financial year ended March 31, 2026.

The promoter group explicitly stated that no shares held by the promoters or the promoter group were encumbered, directly or indirectly, during the financial year ended March 31, 2026. This declaration covers the entire period under review, ensuring that the shareholding remained free from any charges or liens. The disclosure was signed by K. Suryanarayana, an authorised signatory for United Steel Allied Industries Private Limited.

Shareholding Details

The filing provides a specific breakdown of the promoter group's stake in the company. The table below summarizes the key figures disclosed in the regulatory filing.

The document was addressed to the Deputy General Manager of BSE Limited and the Listing Manager of National Stock Exchange of India Limited. A copy of the disclosure was also forwarded to Oil Country Tubular Limited for its records. The filing serves as an annual declaration required under the SEBI regulations to maintain transparency regarding substantial shareholding.

Oil Country Tubular received a show cause notice from the Securities and Exchange Board of India (SEBI) on June 03, 2026, concerning alleged non-compliances with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice, issued on June 02, 2026, under Rule 4(1) of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995, initiates adjudication proceedings against the company. The regulator has appointed an Adjudicating Officer to inquire into the matter and adjudicate under Section 15HB of the SEBI Act, 1992.

The alleged violations relate to the company's handling of an Inter-Corporate Deposit (ICD) Agreement and subsequent Addendum Agreements. Specifically, the notice cites the non-disclosure of the ICD Agreement and Addendum Agreements under Regulation 30 of the LODR Regulations. Additionally, the company is accused of failing to obtain prior shareholder approval for the ICD Agreement and the First Addendum Agreement as material related party transactions under Regulation 23(4).

Further, the notice highlights a lack of requisite approvals for the Second Addendum Agreement. The company allegedly did not secure approvals from the Audit Committee, the Board, or shareholders for this agreement under Regulations 23(2), 23(4), and 4(1)(g) of the LODR Regulations. The initiation of these proceedings underscores regulatory scrutiny over corporate governance and disclosure norms.

The details of the show cause notice were disclosed to the stock exchanges pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI LODR Regulations. The company stated that the information is also available on its website.

Details of the Alleged Violations