Union (Mauritius) Holdings Limited has disclosed the creation of an indirect encumbrance over its shares in Aster DM Quality Care Limited. This disclosure, made on August 26, 2026, pertains to an indirect creation of encumbrance to secure loan facilities. The details specify that 100% of UMHL’s shares have been pledged by individual promoters in favour of DB Trustees (Hong Kong) Limited to secure specific loan facilities totaling USD 210 million.
Encumbrance Disclosure Filed
Union (Mauritius) Holdings Limited (UMHL) has filed a disclosure regarding an indirect encumbrance created over its shareholding in Aster DM Quality Care Limited. The filing, dated August 26, 2026, details the creation of this encumbrance in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The encumbrance is described as an ‘indirect creation of encumbrance’.
Details of the Encumbrance
The disclosure highlights that 100% of UMHL’s shares have been pledged. This pledge was executed by Dr. Azad Moopen Mandayapurath, Ms. Alisha Moopen, Ms. Naseera Azad, Ms. Zeba Azad Moopen, and Ms. Ziham Moopen. These individuals act as pledgors in favour of DB Trustees (Hong Kong) Limited. The purpose of this pledge is to secure loan facilities provided by Barclays Bank PLC and J.P. Morgan Chase Bank, N.A., London Branch (referred to as ‘Lenders’).
Loan Facilities Secured
The encumbrance is in relation to two loan facilities: ‘Facility A’ for USD 160,000,000 and ‘Facility B’ for USD 50,000,000, totaling USD 210 million. It is noted that Facility A represents an existing indebtedness of UIPL, with the loan amount having been increased from USD 145 Million to USD 160 Million. The additional USD 15 Million from Facility A will be utilized for general corporate purposes, while Facility B is intended for extending an inter-company loan to UMHL and other permitted purposes.
Promoter Holding and Note on Existing Encumbrances
UMHL’s total promoter shareholding in Aster DM Quality Care Limited is 1,99,80,522 shares, representing 2.29% of the total share capital. The notes clarify that while no *new direct* encumbrance has been created by UMHL over its shareholding in the Target Company for these facilities, existing encumbrances related to previous indebtedness continue. These existing encumbrances are expected to be released upon completion of stipulated conditions by the lenders.
Source: BSE
