The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for IDBI Trusteeship Services Ltd
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IDBI Trusteeship Services Ltd (ITSL), acting as share pledge trustee and debenture trustee, has sold 1,63,87,184 equity shares (2.67% of share capital) of Quadrant Televentures Ltd in the open market on BSE. The sales happened between 7th March 2025 and 26th May 2026. The shares were originally pledged by Quadrant Enterprises Private Limited (part of the promoter group) against non-convertible debentures issued by Quadrant Televentures in 2013. Following events of default that were not cured, the pledge was invoked and the shares were sold on instructions of the NCD holders to recover outstanding dues. ITSL's holding has reduced from 9.33% to 6.66% of the company.
This is a forced sale by lenders, not a voluntary promoter action. It represents a 2.67% reduction in the effective promoter group stake (via pledged shares) due to the company's default on its debenture obligations. The continued default and asset sales signal financial stress at Quadrant Televentures, which is negative for shareholders. Further pledge-related selling pressure cannot be ruled out.