The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SBICAP Trustee Company Ltd
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SBICAP Trustee Company Ltd has disclosed the creation of a pledge over 10,01,87,364 equity shares (30% of the total share capital) of Schloss Bangalore Limited, the company that operates The Leela Palaces Hotels & Resorts. SBICAP Trustee is acting as Security Trustee for the benefit of a Lender and is not part of the promoter/promoter group. Before this disclosure, the trustee held NIL shares; after the pledge, it holds encumbered shares equivalent to 30% of voting capital. The transaction date/intimation is June 6, 2025, and the disclosure was filed on June 10, 2025. The total equity share capital of the company remains 33,39,57,878 shares of Rs. 10 each.
This is a lender-side disclosure — shares have been pledged as security for a loan facility, not a change in promoter ownership or voting control. Shareholders should note the significant encumbrance on a large block of shares, which could become relevant if the borrower defaults on the loan.