IndusInd Bank has disclosed the creation of a share pledge by its promoters, IndusInd International Holdings Ltd (IIHL) and IndusInd Ltd (IL), effective March 27, 2026. The move involves pledging 6.45% of the total diluted share capital to refinance existing indebtedness. The total value involved in the encumbrance is approximately ₹3060 crore against a security cover ratio of 0.732. The collateral has been extended in favour of Catalyst Trusteeship Limited – Onshore.
Mandatory Disclosure of Share Encumbrance
IndusInd Bank has formally notified the stock exchanges regarding the creation of a pledge on shares held by its promoters, effective March 27, 2026. The disclosure, made on March 31, 2026, covers actions taken by both IndusInd International Holdings Limited (IIHL) and IndusInd Limited (IL).
Details of Share Pledge Creation
The encumbrance relates to the refinancing of existing indebtedness. The details are summarized as follows:
- IIHL Encumbered Shares: 2,22,88,989 shares, representing 2.86% of the total share capital.
- IL Encumbered Shares: 2,79,78,546 shares, representing 3.59% of the total share capital.
- Total Encumbered Shares: 5,02,67,535 shares, constituting 6.45% of the total diluted capital.
The total share capital/total voting capital of the Target Company (TC) remains 77,91,06,092 Shares before and after the creation of the pledge.
Security and Transaction Rationale
The shares have been pledged in favour of Catalyst Trusteeship Limited – Onshore Security Agent. The transaction is structured as a Pledge Creation. The value of shares on the event date was reported as ₹4021,402.8000, against an amount involved of ₹3060,000,000.00, resulting in a security cover ratio (A/B) of 0.732.
The purpose cited for the utilization of the borrowed funds is the refinancing of existing indebtedness.
Holding Status Post-Pledge
The holding of the promoters before consideration included 11,75,16,010 shares, accounting for 15.08% of the total share capital. After the creation of the pledge, the voting rights attached to these collateral shares remain exercisable by the pledgors (IIHL and IL) as per the terms of the Pledge Agreement. The post-event holding of encumbered shares for IIHL and IL remains 2.86% and 3.59% respectively.
Source: BSE
