Announced Fri, 3 Jul · 10:20 IST
Promoters pledge 55.91% shares in Leela Palaces for USD 500M loan
THELEELA · price
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Price reaction · full curve 14 horizons · vs prior close
+5.7%1-day move
₹476.80
prior close
₹474.00
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.1-0.3-0.2+5.7+1.8+0.7+5.2+5.3+3.7-0.4———
Up moveDown movePending
AI summary
Promoters of Leela Palaces Hotels have pledged 18.67 crore shares (55.91% of share capital, 73.67% of promoter holding) with Catalyst Trusteeship as security for lenders like Barclays, Deutsche Bank and Morgan Stanley. The pledge backs a USD 500 million (about INR 4,735 crore) term loan. Pledged shares are worth about INR 9,126 crore (1.93x cover). Proceeds for investor payouts and shareholder loan repayment.
Likely market impact
Large pledge signals promoter leverage; if loan is not repaid, lenders can take control of over half the company's shares.