Promoters create pledge on 55.91 percent of Leela Palaces shares
THELEELA · price
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Promoters of Leela Palaces Hotels have created a pledge on 18.67 crore shares (55.91% of total share capital, 73.67% of promoter holding) via a pledge agreement dated June 24, 2026. Catalyst Trusteeship Limited holds the pledge as onshore security agent for lenders including Barclays, Deutsche Bank, Morgan Stanley, MUFG, Nomura, Standard Chartered and SMBC. The facility is a USD 500 million term loan used for payments to investor entities, repayment of shareholder loans and transaction costs. Share value at pledge date was about Rs 9,126 crore, providing 1.93 times cover.
Promoters pledging majority of their stake signals significant leverage. If loan defaults, lenders could take control of up to 55.91% of the company.