The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
INDOBORAX · price
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Catalyst Trusteeship Ltd, acting as Debenture Trustee, has created a pledge over 24,44,534 equity shares (7.62%) of Indo Borax Chemicals Ltd. This pledge secures INR 390 crore worth of debentures issued by Zenrock Chemicals Private Limited. Following this pledge, the total shares encumbered with the Debenture Trustee increased from 30.80% to 38.42% of the company's share capital. The company has a total equity share capital of Rs. 3.20 crore (3,20,90,000 shares of Rs. 1 each). Catalyst Trusteeship has clarified it does not belong to the Promoter/Promoter group.
This is a significant pledge creation by a debenture trustee representing 38.42% of the company. While Catalyst is not a promoter, the large encumbrance on shares could limit future equity issuance flexibility. Shareholders should monitor whether the underlying debentures face any stress that could lead to pledge invocation.