Catalyst Trusteeship Limited, acting as the onshore security agent, has disclosed the release of encumbrance on 31,698,303 equity shares of Dr. Agarwal’s Health Care Limited. This action stems from a facility agreement entered into in March 2024. Previously, 73,193,988 shares were pledged. The release of this encumbrance is treated as a disposal under the Takeover Code.
Encumbrance Release on Dr. Agarwal’s Health Care Shares
Catalyst Trusteeship Limited, in its role as the onshore security agent for lenders to Hyperion Investments Pte. Ltd., has formally announced the release of encumbrance on a substantial portion of Dr. Agarwal’s Health Care Limited shares. This action pertains to the release of encumbrance created through a pledge on 31,698,303 equity shares of the company. The disclosure is made in accordance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Background of the Transaction
The encumbrance was originally placed on 73,193,988 equity shares of Dr. Agarwal’s Health Care Limited. This pledge was a part of a facility agreement entered into on March 26, 2024, between Hyperion Investments Pte. Ltd. (the Borrower) and certain lenders. The total facility available under this agreement aggregated up to USD 100,000,000. Catalyst Trusteeship Limited previously made a disclosure under Regulation 29(1) of the Takeover Code on February 6, 2025, concerning these pledges.
Details of the Encumbrance Release
The release of encumbrance on 31,698,303 equity shares occurred on August 11, 2026. This event is considered a disposal under the provisions of Regulation 29(2) read with Regulation 29(4) of the Takeover Code. Following this release, the total number of shares encumbered with the acquirer (Catalyst Trusteeship Limited in its capacity as security agent) stands at 41,495,685 shares, representing 13.09% of the total share capital and 12.99% of the diluted share capital.
Shareholding Positions
Before the current action, the holding in the nature of encumbrance was 73,193,988 shares, constituting 23.09% of the total share capital. After the partial release of encumbrance on 31,698,303 shares, the total encumbered shares now stand at 41,495,685. The acquisition/disposal of these shares is described as a ‘Partial release of encumbrance (created by way of pledge)’.
Source: BSE
