Promoters of Steel Strips Wheels Limited have announced a reduction in their pledged equity shares from 8.70 per cent to 5.78 per cent of the total paid-up capital of the company.
Currently, the promoters, along with persons acting in concert, hold 98,103,643 equity shares, representing 62.68 per cent of the total paid-up capital. Out of this, 13,618,530 equity shares, constituting 8.70% of the total paid-up capital and 13.88 per cent of the promoter shareholding, were initially pledged.
On July 15, 2023, 4,573,530 shares were released from pledge, resulting in the total number of pledged shares being reduced to 9,045,000. This represents 5.78 per cent of the total paid-up capital and 9.22% of the total promoter shareholding.
The promoters have further indicated that additional de-pledging is expected in the future. Steel Strips Wheels Ltds. Share increased by 2.60 per cent to ₹205.40 at 11:00 a.m. on BSE.