The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
ASHOKLEY · price
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Catalyst Trusteeship Ltd, acting as an onshore security agent (and not a promoter), has disclosed the creation of a pledge over 106.5 crore equity shares of Ashok Leyland, representing 18.13% of the company's total share capital. These shares are held by HAL, a promoter group entity of the Hinduja Group, which owns 203.89 crore shares (~34.7% of Ashok Leyland) in total. This means roughly 52% of HAL's entire stake in Ashok Leyland is now pledged. The pledge has been created as security for a USD 1,445 million (about ₹12,000+ crore) margin loan facility availed by QH Hungary Holdings, IIHL, IndusInd Limited, and HAL from lenders including J.P. Morgan, Barclays, Citibank, and Deutsche Bank.
With over half of the promoter group's holding in Ashok Leyland now pledged, this raises risk concerns for retail investors. A sharp fall in the share price could trigger margin calls or even invocation of the pledge, potentially putting downward pressure on the stock. Investors should monitor promoter-pledged share disclosures closely.