The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 10, 2026 for Trilochan Singh Sahney Trust 1
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Trilochan Singh Sahney Trust 1 and promoter Harshbeena Sahney Zaveri have restructured their pledged shares between March 27 and April 7, 2026. Tata Capital Limited released 19.5 million shares (20.13% of total capital) that were repledged to Aditya Birla Capital Limited (NBFC). Total promoter holding is 49.6 million shares (51.20%), of which 36.7 million shares (73.91% of promoter holding) remain encumbered. The encumbered shares are valued at Rs. 878 crore against a debt of Rs. 276 crore (security cover ratio 3.19x). The stated reason is optimization of borrowing costs.
Promoter pledge levels remain above the 50% threshold of promoter holding (at 73.91%), which may raise lender/stockholder concerns about collateral risk. However, the restructuring to a new lender suggests no immediate invocation risk and improves borrowing economics.