Navin Fluorine International has announced the release of 1,50,000 equity shares previously pledged with the State Bank of India (SBI). This release marks the conclusion of the pledge agreement involving shares held by Mafatlal Impex Private Limited, a promoter of the company.
According to the company’s disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements, the release of these shares was executed following an Undertaking-cum-Indemnity agreement between Navin Fluorine, Mafatlal Impex, and SBI. The release of the pledged shares has effectively terminated the Amended and Restated Agreement for Pledge dated August 14, 2024.
This development follows an earlier intimation by Navin Fluorine on August 22, 2024, regarding the release of 3,00,000 equity shares. With the latest release, all promoter equity shares in the company are now free of any pledge.
The company has made this information available on its official website, www.nfil.in, for public access.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).