Jayaswal neco industries Limited has signed a significant Memorandum of Understanding with the Government of Maharashtra for establishing a world-class integrated steel plant, marking a major expansion in the company's manufacturing capabilities. The agreement was executed on 22nd January, 2026 at Davos, Switzerland, demonstrating the company's commitment to enhancing India's steel production capacity.

Project Overview and Investment Details

The proposed integrated steel plant will be established at Gadchiroli District, Maharashtra, with a production capacity of two million tonnes per annum. The project represents a substantial investment commitment and employment generation opportunity for the region.

Government Support and Facilitation

The Government of Maharashtra has committed to providing comprehensive support for the project implementation. The state government will facilitate the company in obtaining necessary permissions, registrations, approvals, clearances, and fiscal incentives from concerned departments as per applicable policies, rules, and regulations.

This collaboration reflects the company's strategic approach to contributing towards industrialization in Maharashtra while strengthening India's overall steel production infrastructure.

Regulatory Compliance and Disclosure

The company disclosed this material development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024.

Delayed Submission Explanation

The company acknowledged a delay in the original disclosure submission, which was attributed to the time required for collating complete information regarding the MOU terms signed at Davos, Switzerland. The process was further delayed due to time zone differences between India and Switzerland. The company has expressed regret for the unintentional delay and reaffirmed its commitment to timely compliance with all applicable regulations.

This strategic initiative positions Jayaswal Neco Industries Limited to significantly expand its presence in the Indian steel sector while contributing to regional industrial development and employment generation in Maharashtra.

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.

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.

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.

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.