The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on September 22, 2025 for Satya Narayanan ....
CLEDUCATE · price
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Promoter Satya Narayanan R has filed a revised disclosure with BSE after the exchange raised queries about the original February 2025 filing. The disclosure covers a Non-Disposal Undertaking (NDU) created on 70,32,781 equity shares (13% of total share capital) each by Satya Narayanan R and Gautam Puri, in favour of Piramal Trusteeship Services (acting as Security Trustee for lender Piramal Capital and Housing Finance Ltd). Total encumbrance represents 48.92% of promoter shareholding and 26% of total share capital, falling just below the 50% promoter threshold. The NDU serves as collateral for a Rs. 210 crore term loan availed by CL Educate to fund the 100% acquisition of DEXIT Global Limited (formerly NSEIT Limited), with a share cover value of about Rs. 66.46 crore against the loan.
This is a revised/clarified filing and not a new event. Shareholders should note that nearly half of promoter holdings are pledged/NDU-ed, signalling leveraged promoter positions backing a large acquisition. The low security cover ratio of 0.32 means share price movements matter significantly for loan covenants, which could increase volatility risk.