Catalyst Trusteeship Limited has submitted a disclosure under SEBI SAST Regulations regarding changes in pledge arrangements for Embassy Developments Limited (EDL) shares. The transaction involved releasing a pledge on 5,35,40,000 equity shares and re-creating a pledge on an equivalent number of shares held by Embassy Property Developments Private Limited (EPDPL) and OMR Investments LLP. Crucially, the aggregate number of pledged shares and total borrowing remain unchanged, with the action undertaken for regulatory compliance.
Embassy Developments Share Pledge Update
Catalyst Trusteeship Limited, acting as Debenture Trustee, has officially filed a disclosure concerning Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure pertains to the release and subsequent re-creation of pledge over equity shares of Embassy Developments Limited (EDL).
The transaction involved the release of a pledge on 5,35,40,000 equity shares of EDL, previously held by Embassy Property Developments Private Limited (EPDPL). Concurrently, a new pledge was created over an equivalent number of equity shares of EDL. These re-pledged shares are held by EPDPL and OMR Investments LLP.
No Incremental Pledge or Borrowing
Catalyst Trusteeship Limited emphasized that this Transaction has resulted in no additional pledge or incremental borrowing. The aggregate number of EDL equity shares pledged by the pledgor entities remains unchanged before and after the transaction, meaning no new encumbrance has been created. Furthermore, the transaction does not involve any new, additional, or enhanced borrowing or credit facility by the pledgor entities or their affiliates, and there is no alteration in the underlying financing arrangement.
The primary purpose of this action was to facilitate compliance with the lock-in requirements stipulated under Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, at the request of EPDPL. The company reiterated that this does not result in any additional pledge or borrowing by the involved parties.
Holding Before Consideration
Prior to this transaction, Catalyst Trusteeship Limited held 11,66,35,240 shares in the nature of encumbrance, representing 08.387% of the total share capital and 08.271% of the diluted share capital of EDL.
Details of Acquisition/Sale
The shares were released on November 6, 2026, amounting to (5,35,40,000). Subsequently, these shares were re-created on November 11, 2026, totaling 5,35,40,000.
Holding After Consideration
Following the transaction, the total number of shares encumbered with the acquirer remains 11,66,35,240, representing 8.196% (non-diluted) and 8.087% (diluted) of the total voting capital. The total equity share capital of the Target Company before the said acquisition/sale was Rs. 278,12,66,866, comprising 139,06,33,433 Equity Shares. After the transaction, the equity share capital is Rs. 284,63,04,666, comprising 142,31,52,333 Equity Shares.
Source: BSE
