The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
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Promoter Amit Dahanukar has executed a non-disposal undertaking on 22 December 2025 in favour of Catalyst Trusteeship Ltd, acting as common security trustee for working capital lenders ICICI Bank and Kotak Mahindra Bank. The encumbrance covers 5,41,30,375 equity shares, representing about 26% of the company's paid-up equity capital, and 6,64,50,631 shares on a fully diluted basis (also ~26%). The promoter and PACs have agreed to keep at least 26% shareholding on a fully diluted basis, refrain from creating any further encumbrance (except acquisition-related financing), continue as director and retain control, and not transfer or restructure ownership without lender consent. No actual change in shareholding has occurred — this is a disclosure of encumbrance creation linked to the company's working capital facility.
The promoter's entire ~26% stake (on fully diluted basis) is now locked in favour of lenders, restricting any quick sale, additional pledging or ownership restructuring without ICICI Bank and Kotak Mahindra Bank's consent. Shareholders should view this as a signal of leverage taken on by the company backed by promoter shares — any breach of the undertaking would trigger default on the working capital facility.