NRB Bearings Promoters Reduce Pledged Shares to 20.13% of Total Capital

NRB Bearings Ltd. promoters, Harshbeena Sahney Zaveri and Trilochan Singh Sahney Trust – 1, have refinanced existing loans to optimize borrowing costs. This involved pre-paying a loan from Tata Capital Limited (TCL) with a new loan from Aditya Birla Capital Limited (ABCL). Consequently, 31,791,261 shares (32.80%) held by Harshbeena Sahney Zaveri and 4,888,448 shares (5.04%) by the Trust were released from TCL. Subsequently, 16,484,427 shares (17.01%) and 3,005,000 shares (3.10%) respectively were pledged to ABCL. This transaction has resulted in a net reduction of the total promoter pledged shares from approximately 37.87% to 20.13% of the company's total share capital.