Promoter PAGAC Ecstasy updates encumbrance disclosure; 52.57% shares pledged
NUVAMA · price
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PAGAC Ecstasy, promoter of Nuvama Wealth Management holding 9,69,60,340 shares (52.57%), filed an updated disclosure under SEBI takeover rules. No new shares were pledged or released; the entire 52.57% stake remains encumbered. The revision records the underlying loan amount rising from USD 265 million to USD 450 million under a facility agreement dated December 17 2024 and amended on September 9 2026. Lenders include Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley, MUFG, Nomura, and Standard Chartered.
Existing pledge increased in loan value, not in share count. Higher leverage on promoter stake raises risk if shares need to be invoked, but no new encumbrance created.