The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd

Pledge releasedOwnership Changes View source PDF Explain this filing

NORTHARC · price

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Price reactionminutes from the announcement price · days from the prior close

-1.3%Reaction day

₹275.00

prior close

₹278.60

announcement price

In-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-1.0%-0.3% vs market

Non Banking Financial Company (NBFC) peers, median of 199sector-0.6%-0.7% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.7 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.2

10m

-0.0

15m

-0.2

30m

-0.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.3-1.0-0.3-0.6-0.7

Next day

-4.4-3.1-1.2-1.8-2.5

-2.4-4.0+1.5-1.8-0.6

-0.9-4.3+3.4-1.5+0.6

+1.3-3.0+4.3-1.1+2.4

+4.0-1.7+5.7-1.6+5.6

+1.6-2.3+3.8-1.8+3.3

15d

-3.3-2.3-1.0-1.7-1.6

-1.8-0.7-1.1-1.3-0.5

-6.5-4.1-2.3-4.4-2.1

-8.0-6.3-1.7-4.9-3.1

UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 199Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Catalyst Trusteeship Ltd, acting as Debenture Trustee for Dvara Holdings, has released 40,55,000 equity shares (about 2.51% of Northern Arc Capital's share capital) that were pledged as security for Non-Convertible Debentures issued by Dvara Holdings. Before the release, 82,99,258 shares (5.14%) were held as encumbrance; after the release, the encumbered holding stands at 42,44,258 shares (2.63%). The shares were released in five tranches between April 8, 2025 and September 22, 2025. The acquirer is not part of the promoter/promoter group, and no promoter-level change in shareholding is indicated.

Likely market impact

This is a positive development for the stock as it reduces the pledged/encumbered share pool tied to Dvara Holdings' NCD security, lowering any margin-call or forced-sale risk on these shares. Since the pledge is held by a non-promoter (Dvara Holdings, an investor), this does not affect promoter control but signals reduced leverage-related overhang for a notable shareholder.