The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
EMBDL · price
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Catalyst Trusteeship Limited, acting as Debenture Trustee, disclosed creation of pledge on equity shares of Embassy Developments Ltd. Serenesummit Realty Private Limited created pledge over 4,35,40,000 additional shares (3.131%) during March 16-27, 2026 to secure debentures issued for INR 285 crores (Tranche I: INR 255 crores + Tranche II: INR 30 crores). After this pledge creation, total shares encumbered with the Debenture Trustee stand at 14,66,35,240 shares representing 10.545% of share capital. Catalyst Trusteeship clarified it does not belong to the Promoter/Promoter group. The total diluted share capital after proposed conversion of stock options is INR 282.37 crores.
The pledge creation increases encumbered shares to 10.545%, which may be a concern for lenders/markets if promoter-level pledging crosses thresholds. However, this is a standard debenture security arrangement and not a direct stake sale by promoters.