The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 29, 2025 for BREP Asia III India ....
VENTIVE · price
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On April 25, 2025, encumbrance was created over shares of Ventive Hospitality Ltd held by its promoters as part of a USD 180 million term loan facility availed by VH ML NQ Limited. Promoter BREP Asia III India Holding Co VI Pte. Ltd (holding 10.05% of the company, i.e. about 2.35 crore shares) has 100% of its shareholding encumbered via covenants in the facility agreement with Deutsche Bank AG, Singapore Branch. Similarly, BRE Asia ICC Holdings Ltd (holding 22.31%, i.e. about 5.21 crore shares) also has its shares encumbered under the same arrangement. The total encumbered value of promoter shares is about Rs. 5,597 crore (at Rs. 740.58 per share), giving a security cover of 3.83 times against USD 170.7 million drawn. The loan proceeds will be used for shareholder or intercompany distributions and payment of transaction costs. Lenders include Barclays, Deutsche Bank, JPMorgan, and HSBC.
This encumbrance covers the entire promoter shareholding (100% of Promoter 2 and 22.31% via Promoter 1), which is significant leverage on the promoter group's equity. Any stress on the USD loan could risk invocation of the encumbrance, potentially leading to a change in promoter shareholding or control of the listed company. Investors should monitor the loan repayment and any future encumbrance-related events.