Setco Automotive Limited and its promoters have disclosed that no fresh encumbrance has been created on the company's shares during the financial year ended March 31, 2026. The declarations, submitted to the stock exchanges on April 6, 2026, confirm that the promoters and persons acting in concert have not pledged any shares directly or indirectly, other than those previously disclosed.

The filings were made in compliance with Regulation 31(4) and 31(5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company's Company Secretary, Hiren Vala, submitted the cover letter to BSE Limited and National Stock Exchange of India Ltd.

Promoter Shareholdings

The disclosures detail the shareholding of individual promoters and promoter group entities. Setco Engineering Pvt. Ltd. holds the largest stake among the promoters, while individual family members hold smaller percentages.

Key Declarations

Udit Sheth, Promoter & Director, declared holding 27,62,863 shares, representing 2.07% of the paid-up capital. Harish Sheth, serving as Promoter and Chairman & Managing Director, holds 28,97,575 shares or 2.17%. Sneha Sheth and Urja Sheth, both Promoters & Directors, hold 2.64% and 3.20% respectively.

Among the corporate entities, Setco Engineering Pvt. Ltd. declared a holding of 6,40,63,845 shares (47.89%). TransStadia Enterprises Pvt. Ltd., formerly known as TransStadia Capital Pvt. Ltd., holds 16,50,000 shares (1.23%). Harish Sheth HUF, through its Karta Harish Sheth, declared a holding of 61,080 shares (0.05%).

Setco Automotive Limited has completed the sale of its stake in Setco Auto Systems Private Limited (SASPL), resulting in the cessation of SASPL's subsidiary status. The transaction closed on May 27, 2026, pursuant to a Share Purchase and Subscription Agreement (SPSA) initially announced on March 29, 2026. This strategic move alters the corporate structure by divesting a significant portion of the holding in the subsidiary.

The company transferred 4,47,847 equity shares of SASPL, representing approximately 41% of the paid-up share capital on a fully diluted basis. The shares were sold in favour of RSB Transmissions (I) Limited, the purchaser identified in the agreement. Consequently, SASPL is no longer a subsidiary of Setco Automotive Limited with effect from the closing date.

Transaction Details

The completion of the deal involved the execution of several key documents, including the SPSA, a Shareholders’ Agreement, and a non-compete agreement. These agreements were signed by Setco Automotive Limited, SASPL, RSB Transmissions (I) Limited, and other involved parties.

Control Transfer

Under the terms of the Shareholders’ Agreement, RSB Transmissions (I) Limited has acquired control over SASPL. This control includes the right to determine the composition of the board of directors and the management of SASPL. The transfer of control marks the final step in the disinvestment process initiated by the board's approval earlier in the year.