Steel Exchange India Limited has received a disclosure from Vistra ITCL (India) Limited regarding changes in shareholding under SEBI's substantial acquisition regulations. The disclosure, dated March 04, 2026, pertains to pledge and release transactions involving the company's equity shares.

Shareholding Changes Overview

Vistra ITCL (India) Limited, acting in its capacity as debenture trustee, has reported changes in its shareholding position through a combination of pledge and release transactions. The trustee's total holding has increased from 25.51% to 26.42% of Steel Exchange India's share capital.

Transaction Details

The disclosure reveals specific details of the pledge and release activities undertaken by Vistra ITCL. The transactions occurred on February 26-27, 2026, involving both pledging of new shares and release of previously encumbered shares.

Company Share Capital Structure

Steel Exchange India Limited maintains a total equity share capital of 1,24,72,20,542 shares, each carrying a face value of Rs. 1.00. This information is based on the shareholding pattern available on BSE website for the quarter ended December 2025. The company's shares are listed on both BSE Limited and National Stock Exchange of India Limited.

Regulatory Compliance

Vistra ITCL has clarified that the primary responsibility for complying with SEBI's substantial acquisition regulations lies with the lender and debenture holder, not the trustee. However, the company has filed this disclosure under Regulation 29(2) as a precautionary measure, given its role as security trustee and debenture trustee.

Key Transaction Parameters

• Mode of Transaction: Pledge and release of equity shares
• Transaction Dates: February 26-27, 2026 (pledge), February 26, 2026 (release)
• Acquirer Status: Non-promoter entity
• Trustee Role: Debenture trustee capacity

The disclosure was signed by Jatin Chonani, Compliance Officer at Vistra ITCL (India) Limited, and submitted to both stock exchanges where Steel Exchange India's shares are listed.

Steel Exchange India promoters executed a comprehensive pledge restructuring transaction involving simultaneous release and creation of pledged shares on February 26, 2026. The company filed detailed disclosures under SEBI's Substantial Acquisition of Shares and Takeovers Regulations through authorized signatory Satish Kumar Bandi on March 2, 2026.

Comprehensive Pledge Release Transaction

Nine promoters and promoter group entities released their existing pledged shares totaling 24,46,41,910 shares representing 19.61% of total share capital. The release transaction cleared previous encumbrances before creating fresh pledge arrangements.

Fresh Pledge Creation Structure

Following the release transaction, the same promoters created fresh pledges totaling 24,46,41,910 shares representing 19.61% of total share capital. The fresh pledges serve as collateral against Non-Convertible Debentures and term loans through VISTRA ITCL (India) Limited acting as common security trustee.

Current Promoter Shareholding Position

The promoter group maintains substantial shareholding with modified encumbrance structure following the pledge restructuring transaction.

Debenture Security Framework

The pledge creation supports Steel Exchange India Limited's existing debenture structure involving listed, rated, redeemable Non-Convertible Debentures with comprehensive security arrangements.

Regulatory Compliance and Documentation

The promoters filed comprehensive disclosures pursuant to Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Satish Kumar Bandi, acting as authorized signatory for the promoter group, submitted the documentation to both BSE Limited and National Stock Exchange of India Limited on March 2, 2026.

The pledge restructuring represents standard corporate financing arrangements where promoter shareholdings serve as collateral security for the company's debt obligations through established trustee mechanisms involving multiple financial institutions.