Announced Fri, 11 Sept · 16:23 IST
Promoter PAG Ecstasy discloses encumbrance; loan upsize to USD 450M
NUVAMA · price
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Price reaction · full curve 14 horizons · vs prior close
-2.7%1-day move
₹1744.90
prior close
₹1740.00
base price
After-mkt
timing
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-1.2-1.6-1.7-1.5-2.7-3.3-1.4-3.4——————
Up moveDown movePending
AI summary
PAGAC Ecstasy Pte. Ltd., promoter of Nuvama Wealth Management, disclosed that 9,69,60,340 shares (52.57% of total capital) remain encumbered under a pledge. No new shares were pledged; instead, the underlying loan facility was increased from USD 265 million to USD 450 million for the promoter's personal use. The pledge covers all of PAG Ecstasy's Nuvama shares.
Likely market impact
Existing pledge on 52.57% promoter stake stays. Loan amount increased, raising leverage risk for promoter.