Thaai Casting Limited has disclosed that its promoters have not created any encumbrance on the company's shares during the financial year ended March 31, 2026. The declaration was submitted to the National Stock Exchange of India Ltd. and the company's Audit Committee on April 3, 2026.

The confirmation was provided by Mr. Sriramulu Anandan, a promoter of thaai casting , on behalf of the promoter and promoter group. The filing was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The declaration states that neither the promoters individually nor collectively, including persons acting in concert, created any encumbrance directly or indirectly on the shares of the company during the specified period.

Consequently, as no encumbrances were established, there were no instances of encumbrance release during the financial year. The promoter confirmed that the details provided are accurate to the best of his knowledge and belief.

Promoter and Promoter Group Details

The filing included a list of individuals classified as promoters and members of the promoter group. The table below outlines the names of these individuals as provided in Annexure-A of the declaration.

The declaration was signed by Mr. Sriramulu Anandan from his address in Nandambakkam, Kancheepuram, Tamil Nadu. A copy of the communication was forwarded to the Company Secretary of Thaai Casting Limited for record-keeping purposes.

TCL Corporation is in active discussions to divest a 51% majority stake in its India manufacturing plant, seeking a valuation of up to USD 800 million for the transaction, according to a report by the Economic Times. Standard Chartered is assisting the Chinese electronics giant in facilitating talks with a range of potential buyers, underscoring the significance of the deal in India's electronics manufacturing sector.

Stake Sale at a Glance

The key parameters of the proposed transaction are outlined below:

Potential Buyers and Notable Withdrawal

Standard Chartered is reportedly in discussions with several prominent Indian electronics and manufacturing companies on behalf of TCL. The potential buyers identified include Dixon Technologies, Epack Durable, Syrma SGS Technology, Amber Enterprises, and Uno Minda. These companies represent a cross-section of India's contract manufacturing and consumer electronics ecosystem, reflecting broad interest in TCL's India operations.

However, Havells India has withdrawn from the process, stepping back from what was described as a display integration opportunity. The departure of Havells narrows the field of prospective strategic partners, though multiple other parties remain in active consideration.

Transaction Context

The proposed divestment of a 51% controlling stake positions this as a landmark transaction in India's electronics manufacturing landscape. The sought valuation of up to USD 800 million highlights the scale of TCL's manufacturing footprint in the country. No further details regarding the timeline for the transaction or the final identity of the buyer have been disclosed in the available information.