Valor Estate promoter Goenka Family Trust has created a pledge on 1,66,50,000 equity shares of the company in favour of Authum Investment & Infrastructure Limited. This encumbrance was established to secure a financial facility availed by the real estate developer.

The disclosure, dated October 15, 2026, clarifies that the pledge covers 3.07% of the company's total share capital. The transaction was executed on September 10, 2026, and reported under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing serves as a revised submission following a BSE observation regarding the format of the initial disclosure made on September 11, 2026.

Encumbrance Details

The pledge involves shares held by the Goenka Family Trust, represented by trustees Aseela Goenka, Sunita Goenka, and Abik Agarwal. The specific details of this new encumbrance are outlined below:

Overall Promoter Shareholding Status

Following this creation of encumbrance, the total promoter holding stands at 47.17% of the total share capital. A significant portion of these shares is already encumbered. The table below summarizes the aggregate position of the promoters and persons acting in concert (PACs):

What the Numbers Show

The data reveals a concentrated dependency on secured debt instruments within the promoter group's holdings. While the Goenka Family Trust holds 13.04% of the company, the new pledge adds to existing encumbrances held by other promoter entities like Neelkamal Tower Construction LLP and SB Fortune Realty Pvt. Ltd. Collectively, 15.36% of the total share capital is now pledged or encumbered. This indicates that nearly one-third of the promoter group's total stake is utilized as collateral for financial facilities, highlighting a reliance on leverage-backed financing structures at the shareholder level.

Valor Estate Limited shareholders approved all agenda items at the 20th Annual General Meeting held on September 30, 2026. The company announced that all resolutions were passed by requisite majority through remote e-voting and e-voting at the meeting.

The meeting, conducted via video conferencing, covered the adoption of audited financial statements for FY26, the re-appointment of Vinod Goenka as director, and the appointment of new statutory auditors. The Consolidated Scrutinizer's Report confirmed high shareholder support across all categories.

Resolution details and voting outcomes

The following businesses were transacted during the meeting, with specific voting results disclosed:

• Adoption of Financial Statements: Shareholders approved the adoption of audited standalone and consolidated financial statements for FY26, along with reports of directors and auditors. The resolution received 99.9976% votes in favour.
• Director Re-appointment: Vinod Goenka (DIN: 00029033) was re-appointed as a director retiring by rotation. This resolution also secured 99.9976% votes in favour.
• Auditor Appointment: Mehta Chokshi & Shah LLP (Firm Registration No. 106201W/W100598) was appointed as statutory auditors for a first term of five consecutive years. This resolution received 99.9923% votes in favour.

Voting participation breakdown

The total number of shares outstanding was 542,406,761. The voting results indicate strong promoter support and high institutional approval, with minimal dissent from public non-institutional investors.

The Promoter and Promoter Group, holding 255,860,618 shares, voted entirely in favour of all three resolutions. Public Institutions, holding 23,072,290 shares, also voted unanimously in favour of the financial statements and director re-appointment, with only 600 votes against the auditor appointment.

Procedural compliance and declaration

The company provided a remote e-voting facility to members prior to the AGM via NSDL. The remote e-voting period commenced on September 27, 2026, and ended on September 29, 2026. E-voting was also available during the meeting itself.

The meeting commenced at 3:00 pm and concluded at 3:22 pm. The scrutinizer, Vicky M. Kundaliya of M/s. V. M. Kundaliya & Associates, submitted the consolidated report confirming the fair and transparent conduct of the voting process. The results have been communicated to both stock exchanges and placed on the website of NSDL and the company.