Steel Exchange India has witnessed significant pledge activity involving Vizag Profiles Private Limited, with fresh pledge creation following an earlier release transaction. The company disclosed comprehensive details under SEBI's Substantial Acquisition of Shares and Takeovers Regulations, representing substantial encumbrance changes on equity shares.

Pledge Release and Creation Timeline

Vizag Profiles Private Limited executed a two-phase pledge transaction involving Steel Exchange India equity shares. The company first released existing pledged shares and subsequently created fresh pledges through Catalyst Trusteeship Limited acting as debenture trustee.

Current Encumbrance Position

Following the recent transactions, Vizag Profiles Private Limited maintains significant encumbered shareholding in Steel Exchange India Limited. The company's total promoter holding remains substantial while the encumbered portion has been restructured.

Debenture Structure and Security

The fresh pledge creation supports a debenture issuance by Vizag Profiles Private Limited involving unrated, unlisted, secured, redeemable, non-convertible debentures. The debenture structure provides security through Steel Exchange India equity shares.

Regulatory Compliance Framework

Vizag Profiles Private Limited filed the disclosure pursuant to Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company submitted comprehensive documentation to both BSE Limited and National Stock Exchange of India Limited through Director Suresh Bavineni.

The pledge restructuring represents standard corporate financing arrangements, with Steel Exchange India's equity shares serving as collateral security for the underlying debenture structure involving multiple credit funds through Catalyst Trusteeship Limited as debenture trustee.

Steel Exchange India Limited has announced a board meeting scheduled for March 4, 2026, to consider significant fund raising activities and related corporate governance matters. The meeting has been convened in accordance with Regulation 29 and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fund Raising Proposal

The primary agenda of the board meeting centers on the proposed issuance of securities worth up to Rs 350 crores. This fund raising initiative forms part of the company's broader financial strategy, drawing from an overall fund-raising limit of Rs 750 crores that was previously approved by the board during its meeting held on December 30, 2025.

Board Meeting Agenda

The board will deliberate on several critical aspects of the fund raising process, including:

• Determination of issue price and class of securities
• Number of securities to be issued
• Identification of proposed allottees and investors
• Mode of issue and related terms and conditions
• Draft preparation of Extraordinary General Meeting (EGM) notice
• Ancillary matters including cut-off date fixation and appointment of scrutinizer and e-voting agency

Extraordinary General Meeting Preparations

A significant portion of the board meeting will focus on preparing for an Extraordinary General Meeting to obtain shareholders' approval for the proposed fund raising. The board will consider and approve the draft notice for the EGM, ensuring compliance with regulatory requirements and proper shareholder engagement protocols.

Trading Window Restrictions

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and subsequent amendments from 2018, Steel Exchange India Limited has implemented trading window restrictions. The trading window will remain closed from February 27, 2026, and will continue until 48 hours after the conclusion of the March 4, 2026 board meeting.

During this period, employees, directors, key managerial personnel, designated persons, and their immediate relatives are prohibited from trading in the company's shares or securities. This measure ensures compliance with insider trading regulations and maintains market integrity during the decision-making process.

Corporate Compliance

The company has followed proper notification procedures by informing both BSE Limited and National Stock Exchange of India Limited about the scheduled board meeting. This demonstrates Steel Exchange India Limited's commitment to maintaining transparency and adhering to regulatory requirements in its corporate governance practices.