Axis Trustee Services Limited has confirmed the creation of a direct pledge over 7,35,58,600 shares of Afcons Infrastructure Limited, representing 20% of the company’s shareholding. This action follows the release of a prior lock-in on these shares. While the form of the encumbrance has shifted, the total number of shares encumbered remains unchanged at 9,20,72,053 shares, accounting for 25.03% of the total equity capital as of May 15, 2026.
Change in Encumbrance Structure
Axis Trustee Services Limited, acting as the security trustee, announced a shift in the nature of the encumbrance over the equity shares of Afcons Infrastructure Limited. Previously, the company held an indirect encumbrance over the total shareholding of 9,20,72,053 shares. With the release of a lock-in period on 7,35,58,600 shares held by Goswami Infratech Private Limited (GIPL), a direct pledge has now been established on these shares effective May 15, 2026.
Impact on Shareholding and Security
The total encumbered volume remains consistent with figures reported in late 2025. These shares continue to serve as security for debenture holders associated with the GIPL Debentures and Capespan Debentures. Despite the conversion of the indirect interest into a direct pledge, there is no change in the aggregate number of shares encumbered or the overall 25.03% stake held as security.
Strategic Context
The shares involved are part of the larger financial obligations tied to debenture trust deeds entered into by GIPL and Capespan Investment Private Limited. The trustee clarifies that it holds these shares strictly in its capacity as a common security trustee for the benefit of debenture holders and does not possess any beneficial interest in the equity of the company.
Source: BSE
