Sungrowth Share Stocks Limited has announced the release of a significant pledge on shares of Incredible Industries Limited, marking a notable development in the promoter's shareholding structure. The disclosure was made under Regulation 31 of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, with the latest submission dated December 13, 2025.

Pledge Release Details

The pledge release involves a substantial number of shares and represents a complete elimination of encumbered holdings by Sungrowth Share Stocks Limited. The release was executed following full repayment of a term loan to SREI Infrastructure Finance Limited.

Promoter Holdings Impact

Sungrowth Share Stocks Limited maintains its position as a promoter of Incredible Industries Limited with significant shareholding. The company's holding structure shows the following transformation:

Regulatory Compliance and Disclosure Process

The disclosure was made simultaneously to multiple stock exchanges where Incredible Industries Limited shares are listed, including the National Stock Exchange of India Limited (NSE), BSE Limited, and The Calcutta Stock Exchange Limited. The company submitted a revised disclosure on December 13, 2025, following correspondence with BSE dated December 12, 2025, to include detailed reasons for the encumbrance release as required under SEBI regulations.

Corporate Structure

Sungrowth Share Stocks Limited, incorporated under CIN U65993WB1994PLC066223, operates from its registered office at 14, Netaji Subhas Road, 2nd Floor, Kolkata. The disclosure was signed by Mayank Agarwal, Director with DIN 08458723, ensuring proper authorization and compliance with corporate governance norms.

This pledge release eliminates the encumbrance on the entire promoter shareholding held by Sungrowth Share Stocks Limited in Incredible Industries Limited, reducing encumbered holdings from 31.83% to zero. The action provides complete flexibility in shareholding management and corporate decision-making for the promoter entity, following the successful completion of loan obligations.

RND Steels Limited has disclosed the release of pledge on its shareholding in Incredible Industries Limited, as per regulatory requirements under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

Pledge Release Details

The company released its pledge on December 9, 2025, covering its entire shareholding in Incredible Industries Limited. The pledge release was executed due to full payment of term loan obligations.

Current Shareholding Position

Following the pledge release, RND Steels Limited's shareholding position in Incredible Industries Limited has been updated. The company continues to hold 3.40 lakh shares, representing 0.73% of the total share capital, but these shares are now free from any encumbrance.

Regulatory Compliance

The disclosure was made in compliance with Regulation 31 of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. RND Steels Limited has informed all relevant stock exchanges including BSE, NSE, and Calcutta Stock Exchange about this development.

The company initially submitted the disclosure on December 11, 2025, and subsequently provided a revised disclosure on December 13, 2025, in response to BSE's email dated December 12, 2025. The revised submission included detailed reasons for the release of encumbrance on shares as required under the prescribed format. The regulatory filing was signed by Jaydeep Mukherjee, Director (DIN: 07965994), ensuring transparency in shareholding patterns and encumbrance details for market participants and investors.