The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on November 24, 2025 for CA Magnum Holdings
HEXT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CA Magnum Holdings, the promoter of Hexaware Technologies holding 45.39 crore shares (74.55% of total share capital), has created encumbrance on its entire promoter stake with HSBC Singapore Branch acting as security agent. This secures a USD 1.255 billion (about INR 11,123 crore) Amended and Restated Facilities Agreement dated 17 November 2025. Previously, the promoter had no encumbered shares; now 100% of its holding (74.55% of total share capital) is encumbered via a share charge agreement plus covenants. The end use is to refinance existing financial indebtedness of the borrower, not new spending. Security cover is comfortable at 35%, with shares valued at INR 32,163 crore against the loan amount of INR 11,123 crore. The facility involves a large consortium of offshore lenders including HSBC, ANZ, Barclays, Citigroup, DBS, JPMorgan, Mizuho, MUFG, and Sumitomo Mitsui.
A pledge of the full promoter stake is a notable risk event for shareholders, as any sharp drop in share price or default could trigger enforcement. That said, the loan is for refinancing rather than fresh borrowing, the security cover of 35% provides a cushion, and the promoter retains a controlling 74.55% stake in the company.