Promoter pledges 22.31% of Ventive Hospitality shares for USD 180M loan
VENTIVE · price
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Promoter BRE Asia ICC Holdings Ltd has pledged its entire 22.31% stake (5.21 crore shares) in Ventive Hospitality to secure a USD 180 million term loan. Co-promoter BREP Asia III India Holding also pledged its full 10.05% stake. Combined pledged shares are about 32.36% of company capital. Loan availed by VH ML NQ Limited with lenders including Barclays, Deutsche Bank, JPMorgan, and HSBC.
100% of key promoter holdings now pledged to secure USD 180M loan. Heightened risk if loan defaults as promoters could lose shares.