Union (Mauritius) Holdings Limited has disclosed the creation and subsequent release of encumbrances on its shareholding in Aster DM Quality Care Limited. The disclosures, filed on September 9, 2026, pertain to regulations under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These filings detail events involving pledges and non-disposal undertakings related to the company’s shares, with a total of 2,49,77,319 shares (2.86% of total share capital) being subject to these arrangements.
Encumbrance Disclosures Filed
Union (Mauritius) Holdings Limited has submitted a comprehensive disclosure to the stock exchanges and Aster DM Quality Care Limited regarding the creation and release of encumbrances on its shares. The filings, dated September 9, 2026, are in compliance with Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, commonly known as the Takeover Code.
Key Details of Encumbrances
The disclosures cover both the creation and release of encumbrances over shares of Aster DM Quality Care Limited (formerly Aster DM Healthcare Limited). Specifically, Union (Mauritius) Holdings Limited has been involved in these actions concerning 2,49,77,319 shares, representing 2.86% of the total share capital.
Creation of Encumbrance
A non-disposal undertaking was created on September 7, 2026. This encumbrance was established over 100% of Union (Mauritius) Holdings Limited’s shareholding in the Target Company. The purpose was to provide collateral to Catalyst Trusteeship Limited, acting as the Onshore Security Agent. This secures a term loan of USD 160,000,000 and another facility of USD 50,000,000, availed by Union Investments Pvt Limited from Barclays Bank PLC and JPMorgan Chase Bank N.A.
Release of Encumbrance
Simultaneously, the company also disclosed the release of an encumbrance on 2,49,77,319 shares (2.86% of total share capital) on September 7, 2026. This release is part of the overall transaction detailing the pledge and subsequent arrangement over the shares.
Details of Secured Facilities
The encumbered shares serve as security for two primary facilities:
- Facility A: An existing indebtedness of Union Investments Pvt Limited (UIPL), with the loan amount increased from USD 145 Million to USD 160 Million. The additional USD 15 Million is earmarked for general corporate purposes overseas.
- Facility B: A term loan of USD 50,000,000 proposed to be utilized by UIPL for extending an inter-company loan to Union (Mauritius) Holdings Limited and other permitted purposes.
The total value of the shares on the date of the agreement was approximately USD 207,798,985.08, with the amount involved in the encumbrance being USD 160,000,000 + USD 50,000,000.
Source: BSE
