The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vistra ITCL (India) Ltd
ASIANHOTNR · price
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Vistra ITCL (India) Ltd, acting as debenture trustee, has disclosed the creation of an encumbrance (pledge/non-disposal undertaking) over 2,31,80,000 equity shares of Asian Hotels (North) Ltd, representing approximately 54.37% of the company's paid-up equity share capital. The encumbrance relates to a debenture trust deed dated 24 January 2026 and a facility agreement dated 28 January 2026, involving Elana Holdings Pte. Ltd. (the shareholder whose shares are encumbered) and lenders including Touchstone Capital (AIF) and ECP Ind V Pte. Ltd. The date of encumbrance creation is 3 February 2026, and this is a supplemental disclosure following receipt of BSE/NSE listing approvals on 6 March 2026. The total equity share capital of the company is INR 42,63,32,290 comprising 4,26,33,229 shares. Any breach of the undertakings will trigger mandatory prepayment of the relevant financings and constitute an event of default.
A massive encumbrance (pledge) over 54.37% of total equity shares — likely promoter-held through Elana Holdings — significantly restricts share transferability and creates default/call-risk exposure for retail investors. This signals heavy leveraging of promoter holdings and could weigh on stock sentiment if the loan terms face stress.