The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
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Embassy Developments Ltd has informed the exchanges about a pledge of 6,30,95,240 equity shares (5.16% of total share capital) by JV Holding Private Limited in favour of Catalyst Trusteeship Limited, acting as Debenture Trustee for debenture holders. The pledge has been created as security for debentures aggregating to Rs. 2,295 Crores under a pledge agreement dated March 28, 2025, with the intimation dated April 4, 2025. The acquirer (Catalyst Trusteeship) has confirmed it does not belong to the promoter or promoter group of the company. This is a creation of a fresh pledge, not an invocation or release, and the total share capital remains unchanged at Rs. 244.50 Crores (12.22 crore shares of Rs. 2 each).
Shareholders should note that 5.16% of the company's equity has been encumbered as collateral for a large debenture issue of Rs. 2,295 Crores. While the pledged shares still belong to the pledgor, any future default or invocation of the pledge could lead to a change in shareholding and potential market overhang.