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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Catalyst Trusteeship Ltd, acting as Debenture Trustee for debenture holders of Shirdi Sai Electricals Ltd, has disclosed the creation of a pledge over 27,61,200 equity shares (26% of total share capital) of Indo-Tech Transformers Ltd. The pledge was created on October 30, 2025 pursuant to a Debenture Trust Deed executed on the same date, as security for debentures issued by Shirdi Sai Electricals Ltd. Prior to this transaction, the trustee held no shares or encumbrance in the target company. The total share capital of Indo-Tech Transformers remains unchanged at 1,06,20,000 equity shares of Rs 10 each. The disclosure confirms the acquirer (trustee) does not belong to the promoter/promoter group of Indo-Tech Transformers.
This is a creation of a pledge (not invocation or release) where promoter-linked entity Shirdi Sai Electricals has pledged 26% stake as collateral for its own debentures. Shareholders should note that a significant promoter stake is now encumbered, which could pose a risk if Shirdi Sai Electricals faces financial distress leading to pledge invocation.