Catalyst Trusteeship Limited, acting as Debenture Trustee, has filed a mandatory disclosure regarding the creation of a pledge over equity shares of Embassy Developments Limited. The pledge is in favour of Catalyst for the benefit of Debenture holders. The total shares pledged as encumbrance now stand at 22,46,05,690, representing 16.15% of the total share capital, triggering the disclosure requirements.
Mandatory Pledge Disclosure Filing
Catalyst Trusteeship Limited has submitted a formal disclosure to the stock exchanges concerning the creation of a pledge over the equity shares of Embassy Developments Limited (the Target Company). This action is undertaken in its capacity as the Debenture Trustee, securing the interests of the Debenture holders.
Holding Status Before and After Acquisition
The disclosure details the holdings of the acquirer (Catalyst Trusteeship Limited acting for Debenture holders) both before and after the latest change:
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Before Acquisition: The holding in shares carrying voting rights was 18,01,05,690, representing 12.95% of total capital (12.76% diluted).
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Shares Acquired (Pledged): The current acquisition involves an increase in encumbrance of 4,45,00,000 shares, corresponding to 3.20% of total capital (3.15% diluted).
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After Acquisition: The total holding in shares classified as encumbrance (pledge/lien/non-disposal undertaking) is now 22,46,05,690, which constitutes 16.15% of the total share capital (15.91% diluted).
Details of Present Pledge Transactions
The notice confirms that the current trigger for disclosure is linked to the pledge of 2,50,00,000 equity shares on March 23, 2026. This specific addition resulted in a cumulative change of 3.20% from the last relevant disclosure made under Regulation 29(1).
The filing also documents a history of prior pledges:
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Pledges totaling 8,33,33,400 shares on May 21, 2025, had previously triggered disclosure under Regulation 29(1).
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Subsequent pledges, including 3,63,05,690 shares on December 10, 2025, had triggered disclosure under Regulation 29(2).
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More recent pledges on March 16, 2026 (85,00,000 shares) and March 20, 2026 (1,10,00,000 shares) did not trigger the disclosure threshold at the time they were created.
Capital Structure Information
The total equity share capital of Embassy Developments Limited, both before and after the filing events, remains constant at INR 2,78,12,66,866, represented by 1,39,06,33,433 shares of face value Rs 2 each. However, the total diluted share capital after the transactions stands at INR 2,82,27,30,034.
Source: BSE
