Jayaswal Neco Industries Promoters Create Fresh Pledge on 55.08% Equity Stake

Jayaswal Neco Industries Limited promoters have entered into an agreement to create a fresh pledge on a significant portion of their equity shareholding, marking another important corporate development for the Nagpur-based company. The pledge creation agreement, executed on December 26, 2025, involves 53,48,04,690 equity shares representing 55.08% of the company's total share capital.

Recent Pledge Developments

This development comes just eight days after the promoters had released their previous pledge on 53,49,79,890 equity shares (55.10% stake) on December 18, 2025. The new pledge creation involves a slightly different quantum of shares, indicating dynamic capital structure management by the promoter group.

Transaction Type	Date	Shares Involved	Percentage	Beneficiary
Pledge Release	December 18, 2025	53,49,79,890	55.10%	-
Pledge Creation	December 26, 2025	53,48,04,690	55.08%	Vistra ITCL (India) Limited

Current Pledge Agreement Details

The disclosure, made under Regulation 29(2) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011, reveals the creation of encumbrance in favor of Vistra ITCL (India) Limited as the debenture trustee. The trustee is acting for the benefit of certain identified debenture holders.

Parameter	Before Agreement	After Agreement	Change
Pledged Shares	0	53,48,04,690	+53,48,04,690
Percentage of Total Capital	0.00%	55.08%	+55.08%
Total Promoter Holding	55.15%	55.15%	No change
Voting Rights	53,55,19,366	53,55,19,366	No change

Promoter Group Structure

The extensive promoter group comprises 29 entities that have agreed to the pledge creation. The individual promoters include Mr. Basant Lall Shaw, Mr. Arvind Jayaswal, Mr. Ramesh Jayaswal, Ms. Nisha Jayaswal, Ms. Rita Jayaswal, Mr. Anand Jayaswal, Mr. Avneesh Jayaswal, Mr. Archit Jayaswal, Ms. Poojaa Agrawal, Ms. Karishma Jayaswal, and Ms. Hargunn Bedi Jayaswal.

The corporate entities in the promoter group span various business verticals:

Core Business Operations: Jayaswal Holdings Private Limited, Neco Valves and Pumps Private Limited, Neco Leasing and Finance Private Limited
Infrastructure & Power: Jayaswal Neco Power Private Limited, Jayaswal Neco Infrastructures Private Limited, Jayaswal Neco Energy Private Limited
Steel & Mining: Jayaswal Neco Steel and Mining Limited, Jayaswal Neco Metallics Private Limited
Trading & Services: Anurag Sales & Services Private Limited, Avon Sales and Services Private Limited, Karamveer Impex Private Limited
Diversified Ventures: Apex Spinning Mills Private Limited, Nine Star Plastic Packaging Services Private Limited, Neco Holdings Private Limited, Nagpur Agro and Food Processors Limited, Parivar Food Industries Private Limited, Jyotikant Investments Private Limited, Vibrant Electronics Private Limited

Capital Structure and Compliance

The company's equity share capital remains unchanged following the pledge creation agreement. The transaction represents a financing arrangement through the debenture trustee mechanism.

Component	Details
Total Equity Shares	97,09,98,244
Face Value per Share	₹10.00
Total Share Capital	₹970.99 crores
Promoter Shareholding	55.15%
Current Pledged Shares	53,48,04,690

The disclosure was filed with both BSE Limited and National Stock Exchange of India Limited on December 30, 2025, maintaining compliance with SEBI's takeover regulations. The pledge creation follows mutually agreed timelines between the promoters, promoter group, and the debenture trustee, indicating a structured financing arrangement.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.02%	-3.62%	+23.86%	+115.87%	+101.44%	+1,105.47%

Jayaswal Neco Industries has successfully completed the allotment of its ₹1800 crore non-convertible debentures (NCDs) to nine institutional investors. The company's Committee of Directors approved the allotment on December 12, 2025, marking the completion of its previously announced debt refinancing plan.

Debenture Allotment Details

Parameter:	Details
Total NCDs Allotted:	1,80,000 debentures
Face Value:	₹1,00,000 each
Total Amount:	₹1800.00 crores
Allotment Date:	December 12, 2025
Maturity Date:	November 23, 2031
Tenure:	72 months (2172 days)

Investor Distribution

The debentures have been allocated among nine prominent financial institutions, with Tata Capital Limited receiving the largest allocation:

Investor:	NCDs Allotted	Amount (₹ Crores)
Tata Capital Limited:	80,000	800.00
Emerging India Credit Opportunities Fund II:	30,000	300.00
Piramal Finance Limited:	12,500	125.00
Hero FinCorp Limited:	12,500	125.00
Vivrti Fixed Income Fund:	16,000	160.00
DSP Finance Private Limited:	7,500	75.00
Nippon India Credit Opportunities AIF-Scheme 1:	7,500	75.00
Oxyzo Financial Services Limited:	10,000	100.00
Vivrti Short Term Debt Fund:	4,000	40.00

Financial Terms and Security

The NCDs carry an attractive coupon rate of 12.50% per annum, compounded monthly, with monthly payment schedules. Principal payments are scheduled to commence from December 23, 2025. The debentures are secured through multiple layers of protection:

First ranking pari passu charge by way of hypothecation on all moveable assets and current assets
First ranking pari passu charge by way of mortgage on identified immovable assets
First ranking exclusive pledge over identified shares of the promoter group
Personal guarantees from promoters Mr. Arvind Jayaswal, Mr. Ramesh Jayaswal, and Mr. Avneesh Jayaswal

Strategic Impact

This successful allotment represents the completion of Jayaswal Neco Industries' strategic debt refinancing initiative. The participation of established financial institutions like Tata Capital, Piramal Finance, and Hero FinCorp demonstrates market confidence in the company's financial restructuring plan. The 72-month tenure provides the steel industry player with long-term financial stability while the monthly payment structure ensures regular cash flow management.