NRB Bearings Promoters Reduce Overall Share Pledge by 0.02%

NRB Bearings Ltd promoters, Trilochan Singh Sahney Trust – 1 and Harshbeena Sahney Zaveri, have disclosed a re-arrangement of their pledged shares. This involved refinancing existing loans from Tata Capital Limited (TCL) by pre-paying them with new loans from Aditya Birla Capital Limited (ABCL). As a result, TCL released a portion of the previously pledged shares, which were subsequently re-pledged to ABCL. The primary objective of this exercise was to optimize borrowing costs. The net outcome of these transactions is a marginal reduction in the overall promoter share pledge by 20,291 equity shares, translating to a 0.02% decrease in the total share capital of NRB Bearings Ltd.