Setco Automotive Limited disclosed the release of 28.16 lakh equity shares by promoter Harish Kiritbhai Sheth on June 18, 2026. The release was executed by Vistra ITCL (India) Limited as the Debenture Trustee against Non-Convertible Debentures (NCDs) issued by Setco Auto Systems Pvt. Ltd. This action reduces the encumbrance on the promoter's shareholding, leaving a remaining pledged stake of 81,575 shares.

The disclosure was made to the stock exchanges on June 22, 2026, in compliance with Regulations 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The release pertains to shares of ₹2 each. The entities in whose favor the shares were previously encumbered include India Resurgence Fund - Scheme 1 and India Resurgence Fund - Scheme 2, managed by India Resurgence Asset Management Business Private Limited, along with the lender Vistra ITCL (India) Limited.

Prior to the release, Harish Kiritbhai Sheth held 28,97,575 shares, amounting to 2.17% of the total share capital, all of which were encumbered. The release of 28,16,000 shares constitutes 2.11% of the total share capital. The post-event holding of encumbered shares now stands at 81,575 shares, or 0.06% of the total share capital.

The filing also details the holdings of other promoters and Persons Acting in Concert (PAC). Urja Harshal Shah holds 42,84,725 shares (3.20%), Sneha Harish Sheth holds 35,37,400 shares (2.64%), and Udit Harish Sheth holds 27,62,863 shares (2.07%). Harish Kiritbhai Sheth HUF holds 61,080 shares (0.05%). Additionally, Setco Engineering Pvt. Ltd. holds 6,40,63,845 shares (47.89%), and TransStadia Enterprises Private Limited holds 16,50,000 shares (1.23%). None of these entities reported any encumbrance or release of encumbrance in this filing.

Details of Encumbrance Release

Promoter Holding Summary

Promoter Sneha Harish Sheth released 33,82,500 equity shares of Setco Automotive on June 18, 2026, reducing the encumbrance on her holdings. The release was executed by Vistra ITCL (India) Limited in its capacity as Debenture Trustee. The shares were pledged against Non-Convertible Debentures (NCDs) issued by Setco Auto Systems Pvt. Ltd., with the lenders being India Resurgence Fund - Scheme 1 and India Resurgence Fund - Scheme 2, managed by India Resurgence Asset Management Business Private Limited.

The disclosure was made to the stock exchanges on June 22, 2026, in compliance with Regulations 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to the release, Sneha Harish Sheth held 35,37,400 shares, representing 2.64% of the total share capital, all of which were encumbered.

Post-Event Shareholding Details

Following the release of 33,82,500 shares, which constituted 2.53% of the total share capital, the promoter's encumbered holding has decreased significantly. The remaining encumbered shares now total 1,54,900, accounting for 0.12% of the total share capital.

The filing also provides details on other promoters and their shareholding status. As per the records, other promoters such as Urja Harshal Shah, Harish Kiritbhai Sheth, and Udit Harish Sheth hold no encumbered shares. Setco Engineering Pvt. Ltd., a major promoter, holds 6,40,63,845 shares, or 47.89% of the total share capital, with zero encumbrance.