Lunolux Midco Limited, a promoter of Eureka Forbes Limited, has disclosed the encumbrance of its shares. This includes a pledge over 121,041,730 equity shares, representing 62.55% of the total paid-up share capital of Eureka Forbes. The encumbrances, created on various dates in 2024, are linked to facility agreements and include non-disposal undertakings.
Promoter Share Encumbrance Detailed
Lunolux Midco Limited, a promoter of Eureka Forbes Limited, has filed a disclosure regarding the encumbrance of its shares in the target company. This filing, made in accordance with SEBI SAST Regulations, details significant financial arrangements involving the promoter’s stake.
Details of Encumbrances
The disclosure highlights several key encumbrances:
- Creation of Encumbrance (May 7, 2024): A pledge was created over 121,041,730 equity shares, constituting 62.55% of Eureka Forbes’ total paid-up share capital. This encumbrance is in favour of CSCGlobal Capital Markets (Singapore) Pte. Ltd., acting as security agent for lenders, under a facility agreement dated May 1, 2024.
- Non-Disposal Undertaking (May 7, 2024): A non-disposal undertaking was also provided by Lunolux.
- Additional Pledge (July 28, 2026 – Creation Date): An additional pledge involves 11,418,729 equity shares, representing 5.90% of the total paid-up share capital of Eureka Forbes. This pledge is in favour of Catalyst Trusteeship Limited, acting as security agent, linked to a pledge created on May 7, 2024.
Rationale and Nature of Encumbrance
The primary purpose for these encumbrances is related to availing a facility by Lunolux. The funds were utilized towards inter alia refinancing/repayment of an existing term loan facility.
Source: BSE
