The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for IDBI Trusteeship Services Ltd
PARSVNATH · price
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IDBI Trusteeship Services Ltd (ITSL), acting as Debenture Trustee and Share Pledge Trustee, has disclosed the sale of 1,59,40,565 shares (3.66%) of Parsvnath Developers Ltd in the open market between 22 December 2025 and 26 May 2026. Additionally, 1,27,12,835 shares were transferred off-market to Lenders/Debenture Holders. This follows events of default under the Debenture Trust Deed that were not cured by Parsvnath Developers. The pledged shares belonged to promoter entities including Mr. Pradeep Jain, Mr. Pradeep Kumar Jain, and their associated entities. After the transactions, ITSL's holding reduced significantly from 5.24% (2,27,88,565 shares) to just 1.58% (6,848,000 shares).
This represents a significant reduction in pledged promoter holdings being divested due to debt default. The company's promoters have lost effective control over a substantial portion of their shares, and the stock faces continued selling pressure from the pledge trustee unwinding positions to recover dues from debenture holders.