Promoter Nikhil Mehta pledges 25.50 percent stake in Emerald Leisures
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Promoter Nikhil Vinod Mehta has created a pledge on 38,30,290 equity shares of Emerald Leisures, representing 25.50 percent of total share capital and about 82 percent of his personal holding. The pledge secures 105 crore rupees of 10 percent secured unlisted NCDs issued by the company. Proceeds will fund club expansion (25 crore), Aditya Birla Capital loan repayment (20 crore), SRA expenses (30 crore), general corporate purposes (25 crore), and transaction expenses (5 crore).
No ownership change, but about 82 percent of promoter shares now encumbered. Higher leverage risk if share price falls. NCD funds support company growth and debt cleanup.