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 for Asian Hotels (North) Limited, has disclosed creation of an encumbrance over 2,31,80,000 equity shares (approximately 54.37% of the company's paid-up share capital) under SEBI Takeover Regulations. The encumbrance arises from a non-disposal undertaking given by Elana Holdings Pte. Ltd., a shareholder, in connection with financing arrangements — including a debenture trust deed dated 24 January 2026 and a facility agreement dated 28 January 2026 with ECP Ind V Pte. Limited. The encumbrance was formally created on 3 February 2026, though the underlying documents were executed between 24 January and 3 February 2026. The filing confirms no actual shares were bought or sold — it is purely an encumbrance notification. The company has also agreed not to change its shareholding pattern without the debenture trustee's prior consent, and any breach would trigger mandatory prepayment and an event of default.
This is not a change in ownership — no shares were bought or sold. However, over half of the company's equity (54.37%) is now encumbered as collateral for debt, signalling significant leverage and restrictions on the major shareholder (Elana Holdings) from transferring or pledging these shares elsewhere.