Catalyst Trusteeship Ltd has submitted to the Exchange a copy of disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
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Catalyst Trusteeship Ltd has filed a disclosure regarding a partial release of the pledge on promoter shares of Veranda Learning Solutions. A total of 77,04,339 shares (8.23% of the company's share capital) were released from encumbrance on August 8, 2025. This release happened because Veranda XL Learning Solutions, a group company, repaid its entire non-convertible debentures worth INR 310 crore. Before this release, 3,84,69,650 shares (53.97% of capital) were encumbered; after the release, the remaining encumbrance stands at 64,65,516 shares (6.91% of capital). The promoters — Kalpathi Subramanyam Aghoram, Kalpathi Subramanian Suresh, and Kalpathi Subramaniam Ganesh — will now maintain a pledge covering at least 100% of the outstanding facility amount for the remaining VLSL and Veranda Race debentures.
This is a positive development for shareholders — a meaningful chunk of promoter shares has been freed from pledge, lowering the risk of forced selling. It also signals that the group has reduced its debt burden by INR 310 crore, improving overall financial flexibility. The remaining pledge is tied to VLSL's own NCDs and Veranda Race's NCDs.