The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on February ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Anupam Rasayan India Ltd, one of the promoters of TANFAC Industries Ltd, has created a non-disposal undertaking (NDU) on 25,73,081 equity shares (25.80% of total share capital) in favour of Catalyst Trusteeship Limited, which is acting as security trustee for an offshore lender (Altis XII Pte. Ltd., Singapore). The encumbrance is linked to senior secured notes of up to USD 20 million raised by Doriath S.À R.L., a wholly-owned subsidiary of Anupam Rasayan, to fund the acquisition of Monitchem Kansas S.À R.L. and its subsidiaries. After this event, encumbered promoter shares stand at 49.79% of total promoter shareholding, just below the 50% threshold. The shares are valued at around INR 110.65 crore against the USD 20 million encumbrance, giving a security cover of about 6.08x.
This is a non-disposal undertaking rather than a pledge or sale, so no promoter shares are being liquidated. However, nearly half of the promoter's stake in TANFAC is now tied up as collateral for an offshore acquisition by the parent (Anupam Rasayan), which limits flexibility. Shareholders should monitor whether this NDU is later converted into a pledge, invoked, or released, as it could affect promoter control over TANFAC.