Navin Fluorine International Limited has announced the release of 1,50,000 pledged equity shares held by Mafatlal Impex Private Limited. This development marks the end of the Amended and Restated Agreement for Pledge dated August 14, 2024, without any further action required.
According to the disclosure under Regulation 7(2) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the equity shares held by Mafatlal Impex in Navin Fluorine are now free of any pledge. The release of these shares was executed without any additional acts or deeds, as per the Undertaking-cum-Indemnity.
Prior to this release, Mafatlal Impex held a total of 1,30,36,149 equity shares, representing 25.44% of Navin Fluorine’s total equity. The release involved 1,50,000 of these shares, which were previously pledged.
The disclosure was made in accordance with the regulatory requirements and has been filed separately with the stock exchanges. This update is also available on Navin Fluorine’s official website.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).