STEEL EXCHANGE INDIA LIMITED promoter, Vizag Profiles Private Limited, has adjusted its share pledging.

The promoter released 17.16 crore shares (13.76% of total company capital) previously pledged.

Simultaneously, 12 crore shares (9.62% of total company capital) were newly pledged.

The new pledge serves as collateral for ₹100 crore of unrated, unlisted debentures issued by Vizag Profiles Private Limited, intended for loans to STEEL EXCHANGE INDIA LIMITED or its Group entities.

Overall, the promoter's total pledged shares have decreased from approximately 24.49 crore shares (19.63%) to 19.33 crore shares (15.50%) of the company's total share capital.

This reduction in the promoter's pledged holdings is generally viewed favorably by the market as it signals reduced leverage.