The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SBICAP Trustee Company Ltd
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SBICAP Trustee Company Ltd (STCL), acting purely as a security trustee for lenders, has released all 10,01,87,364 shares (30% of equity capital) of Schloss Bangalore Limited (Leela Palaces) that were previously pledged in its favour. The release happened on 04 September 2025. Before the release, STCL held 10,01,87,364 shares entirely as encumbered shares (non-disposal undertaking/pledge); after the release, its holding stands at NIL. STCL is not a promoter of the company — it only acted as a trustee holding shares as security on behalf of lenders. Total equity share capital of the company remains 33,39,57,878 shares of Rs 10 each.
This is a positive signal for Leela Palaces shareholders as the release of pledged shares typically indicates loan repayment or refinancing of the underlying debt obligation, reducing encumbrance on 30% of the company's equity. Since STCL is not a promoter, this does not change promoter ownership, but it suggests improved financial flexibility for the borrowing entity.