The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
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Awaiting price reaction for this filing.
Catalyst Trusteeship Ltd, acting as debenture trustee, has disclosed the full release of pledge and encumbrance over 3,18,71,573 equity shares of Veranda Learning Solutions Ltd (representing 34.05% of total share capital and 33.36% of diluted share capital). The pledge was originally created by promoters Kalpathi S Aghoram, Kalpathi S Suresh, and Kalpathi S Ganesh in connection with non-convertible debentures issued by VLSL and Veranda Race Learning Solutions. Following the full redemption of those debentures by VLSL and Veranda Race, the entire pledge was released on February 27, 2026. Additionally, the earlier covenant requiring the promoters to maintain a minimum 26% shareholding in VLSL, which was treated as an encumbrance, also stands terminated. Post-release, the trustee's holding in the nature of encumbrance is NIL.
Positive for shareholders — the removal of the pledge eliminates any risk of forced share sale by the promoters and signals that the company and its subsidiaries have fully cleared their debenture obligations, improving the overall financial flexibility of the promoter group.