Standard Glass Lining Technology Limited's promoter entity has created a pledge on a significant portion of its shareholding for personal borrowing purposes. S2 Engineering Services, represented by partners Kandula Ramakrishna and Kandula Krishna Veni, disclosed the encumbrance of equity shares under SEBI takeover regulations on January 2, 2026.

Pledge Details and Financial Arrangements

The promoter entity has pledged 1,14,57,143 equity shares, representing 5.74% of the company's total share capital. The pledge was created on December 31, 2025, and involves two separate financial institutions as beneficiaries.

Distribution Among Lenders

The pledged shares have been distributed between two financial institutions with specific allocations and corresponding loan amounts.

Promoter Shareholding Structure

S2 Engineering Services maintains a total holding of 1,88,26,000 equity shares in Standard Glass Lining Technology Limited, representing 9.44% of the company's total share capital. The pledged shares constitute 60.84% of the promoter's total shareholding in the company.

The value of the pledged shares on the date of the agreement was ₹170,88,32,878, creating a ratio of 2.35 times against the borrowed amount of ₹72,69,99,979. This indicates a conservative loan-to-value ratio for the pledge arrangement.

Regulatory Compliance and Disclosure

The disclosure was made in compliance with Regulation 31(1) read with Regulation 28(3) of the SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011. The company confirmed that the encumbered shares represent less than 50% of the promoter shareholding and less than 20% of the total share capital, ensuring compliance with regulatory thresholds.

The promoters explicitly stated that the borrowed funds are intended for personal use and will not benefit the listed company or its subsidiaries. Standard Glass Lining Technology Limited is listed on both BSE Limited and National Stock Exchange of India Limited under the scrip code 544333 and symbol SGLTL respectively.

Standard Glass Lining Technology Limited has received official approval from the Registrar of Companies, Central Processing Centre, Ministry of Corporate Affairs (MCA) for its name change to Standard Engineering Technology Limited, effective December 29, 2025. This marks the completion of the corporate transformation process that began with overwhelming shareholder approval through postal ballot on December 14, 2025.

MCA Approval and Regulatory Compliance

The company has formally notified BSE Limited and National Stock Exchange of India Limited about the approved name change under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The Certificate of Incorporation pursuant to change of name has been issued by MCA, making the transformation legally effective.

Postal Ballot Process and Shareholder Approval

The transformation was initiated through a comprehensive postal ballot process conducted from November 15, 2025 to December 14, 2025, with 258 members participating in the remote e-voting facilitated by National Securities Depository Limited (NSDL). All six special resolutions received overwhelming approval, demonstrating strong shareholder support for the corporate restructuring.

Key Resolution Approvals

The shareholders approved all proposed measures with requisite majority, including the company name change which received 99.99% approval with 15,58,78,972 votes in favour out of 15,58,83,808 total votes polled. The Objects Clause Amendment also secured 99.99% approval with 15,58,78,912 votes in favour.

Enhanced Business Scope

The approved amendments to the Main Objects Clause III(A) of the Memorandum of Association reflect the company's expanded business activities beyond glass-lined equipment manufacturing. The revised scope encompasses advanced engineering and manufacturing for pharmaceutical, chemical, food, beverages, nuclear, power, refinery, petrochemical, semiconductor, and allied industries, along with detailed engineering services across multiple disciplines and strategic alliances for technology transfer and innovation.

Corporate Communication

The official intimation was signed by Kallam Hima Priya, Company Secretary & Compliance Officer, and submitted to both stock exchanges on December 29, 2025. The company maintains its registered office at D-12, Phase-I, IDA Jeedimetla, Hyderabad-500055, with corporate office at 10th Floor, PNR High Nest, Hydernagar, KPHB Colony, Hyderabad-500085.