The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
TVSSCS · price
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Catalyst Trusteeship Ltd, acting as Debenture Trustee for several institutional debenture holders, has disclosed an additional pledge of 1.35 crore equity shares of TVS Supply Chain Solutions Ltd on April 2, 2025. This is on top of earlier pledges of 3.30 crore shares (January 30, 2025) and 20 lakh shares (February 10, 2025). With this latest pledge, the total encumbered shares stand at 4.85 crore, equal to 10.99% of the company's share capital. The disclosure is required because the combined encumbrance has crossed the regulatory threshold under the SEBI Takeover Code. The acquirer is not part of the promoter or promoter group; the debenture holders include institutions such as OMERS, JP Morgan Securities India, Nippon India Credit Opportunities AIF, DSP Finance, Nomura Capital, Kotak Private Credit Fund and Jio Finance.
Nearly 11% of TVS Supply Chain Solutions' shares are now pledged as collateral for institutional debentures, which is a notable level of encumbrance. Since the pledge is by debenture holders rather than promoters, the direct governance risk is lower, but investors should track any further additions, top-ups or invocation of these pledges as they could affect share price stability.