Dev Accelerator: 19.65% promoter shares pledged as NCD collateral

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AI summary

Catalyst Trusteeship, acting as Debenture Trustee, disclosed creation of encumbrance on 1,85,96,640 shares (19.65% of diluted capital) of Dev Accelerator. This is linked to issuance of up to 1,00,000 secured listed NCDs of Rs 10,000 each, totaling Rs 100 crore, via private placement under a Debenture Trust Deed dated 31 July 2026. Guarantors must maintain at least 19% collective shareholding and executive roles until final redemption. Catalyst is not a promoter of the company.

Likely market impact

Promoter shares pledged as collateral for Rs 100 crore NCD raise; covenants lock 19% minimum holding and restrict corporate restructuring until redemption.