The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SBICAP Trustee Company Ltd
VERANDA · price
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SBICAP Trustee Company Ltd, acting as Share Pledge Trustee for City Union Bank Ltd (the lender), has disclosed the creation of an additional pledge of 9,00,000 equity shares (0.94% of paid-up capital) of Veranda Learning Solutions Ltd, effective March 20, 2026. This increases the total shares held as encumbrance (pledge) from 36,00,000 (3.76%) to 45,00,000 shares, representing 4.70% of the company's equity capital. SBICAP Trustee clarified that it does not belong to the promoter or promoter group of Veranda. The pledged shares serve as collateral security for credit facilities extended by City Union Bank to the borrowing entity.
This is a credit-related disclosure rather than a change in ownership — the shares remain pledged as collateral for a bank loan. For retail investors, it indicates that City Union Bank has additional Veranda shares as security but the overall encumbrance remains modest at under 5%, so there is no immediate governance or control implication. The market is unlikely to react significantly as SBICAP Trustee is a security holder, not a promoter.