The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 28, 2025 for Vithal V. Kamat
KAMATHOTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kamat Hotels (India) has filed a revised disclosure under SEBI SAST Regulations regarding the release of pledge on shares held by its promoters and promoter group entities. The original release happened on December 18, 2024, and this revised filing was made on March 28, 2025, after the BSE flagged discrepancies in the earlier December 2024 disclosure. In total, roughly 1.51 crore promoter shares (spread across 10 promoter/promoter group entities) have been released from pledge, with the largest releases coming from Vishal Amusements Limited (18.25%), Plaza Hotels Private Limited (11.99%), and Vithal V. Kamat (10.53%). The reason given for the release is that the company has fully redeemed its Non-Convertible Debentures, which were held against the pledged shares by Catalyst Trusteeship Limited on behalf of lenders including Purple Clover Tree LLP, SBIFM Special Situations Fund I, and True North Credit Opportunities Fund I. After the release, none of the promoter group shares remain encumbered.
This is a positive development for shareholders — the company has cleared its NCD obligations, removing a key debt-related risk and freeing up promoter shares from encumbrance, which improves promoter flexibility and reduces the risk of forced selling.