The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on May ....
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BCP Topco IX Pte. Ltd., the promoter of Mphasis holding 30.55% stake (5,82,99,642 shares), has refinanced its existing USD 1.1 billion loan facility (2021) with a new USD 550 million facility (2026). As part of this refinancing, the 2021 encumbrance was released and a fresh encumbrance was created on May 15, 2026. The new encumbrance involves a direct pledge on 100% of the promoter's shareholding (30.55% of total share capital) in favour of lenders including Citibank, Barclays, HSBC, Morgan Stanley, BNP Paribas, Deutsche Bank, JP Morgan, MUFG, and Nomura. The pledged shares are valued at approximately INR 121.45 billion against a loan of INR 52.76 billion, providing a collateral coverage ratio of 2.302. The loan proceeds are being used for refinancing, dividend payments, and related fees.
While this is a routine refinancing with no change in promoter shareholding, the fact that 100% of the promoter's 30.55% stake is now directly pledged as collateral increases risk for shareholders. Any default could trigger invocation of this pledge, potentially affecting stock liquidity and promoter voting power.