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 October ....
MUTHOOTCAP · price
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The three promoter shareholders of Muthoot Capital Services — Thomas John Muthoot, Thomas George Muthoot and Thomas Muthoot — have given a non-disposal undertaking in favour of Vardhman Trusteeship Pvt Ltd (acting as security trustee), encumbering 28,25,896, 28,07,822 and 27,05,524 shares respectively. Together this covers 51% of promoter shareholding (around 26% of total share capital). The encumbrance is connected to the company's issuance of 15,000 secured, listed, senior, redeemable non-convertible debentures (NCDs) worth ₹150 crore, classified as 'green debt securities' and rated CRISIL AA+(CE), partly guaranteed by GuarantCo Ltd. Each promoter has also committed to keep their combined stake above 51% of the company. The bond proceeds will be used by Muthoot Capital Services for on-lending to customers for buying new electric vehicles.
This is a routine disclosure tied to a green bond raise rather than any financial distress — the encumbrance is a non-disposal undertaking, not a lender-invoked pledge. However, locking up 51% of promoter holdings does restrict the promoters' ability to trim or exit their stake, which slightly reduces flexibility for any future block deal or sell-down.