The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
PRAXIS · price
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Catalyst Trusteeship Limited, acting as security trustee for Poonawalla Fincorp Limited (lender), has disclosed creation of a new pledge over 48,80,000 equity shares (2.63%) of Praxis Home Retail. The pledged shareholding increased from 2,36,56,000 shares (12.73%) to 2,85,36,000 shares (15.36%) of the total paid-up capital of 18,58,12,210 equity shares. This represents additional shares being pledged as security for a loan facility. Catalyst Trusteeship clarified it does not belong to the promoter/promoter group. The date of acquisition of pledge was March 30, 2026.
The pledge increase indicates promoters or existing shareholders have provided additional shares as collateral for borrowing, which could signal financial stress or refinancing activity. While 15.36% is below the 50% threshold, it represents a notable encumbrance on shares.