Catalyst Trusteeship Limited, acting as the onshore security agent, has disclosed a further encumbrance by Lunolux Limited (the Borrower). This involves a ‘top-up’ pledge of 11,418,729 equity shares in Eureka Forbes Limited, representing 5.90% of the issued and paid-up share capital. This action is in accordance with the terms of a facility agreement and is considered an acquisition under takeover regulations, bringing the total pledged shares to 76,368,729.
Additional Share Pledge Disclosed
Catalyst Trusteeship Limited, in its capacity as the onshore security agent, has filed a disclosure concerning an increase in pledged shares of Eureka Forbes Limited. The disclosure highlights that Lunolux Limited, the borrower under a facility agreement dated May 1, 2024, has created a ‘top-up’ pledge over an additional 11,418,729 equity shares of Eureka Forbes Limited. These shares represent 5.90% of the company’s issued and paid-up share capital.
Impact of Encumbrance
This latest pledge, which occurred on July 28, 2026, follows an initial pledge made by the borrower. The ‘top-up’ pledge was executed in compliance with clause 19.2 (Collateral Shortfall) of the Facility Agreement. As per Regulation 29(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, any encumbrance over shares is treated as an acquisition. Consequently, the total number of pledged shares now stands at 76,368,729, representing 39.47% of the total share capital.
Shareholding Details
Prior to this additional encumbrance, the borrower had already pledged 64,950,000 shares. The total equity share capital of Eureka Forbes Limited before this acquisition was 19,35,06,186 shares. Post the creation of the top-up pledge, the total number of shares encumbered by the borrower in favour of Catalyst Trusteeship Limited, for the benefit of the lenders, now amounts to 76,368,729.
Source: BSE
