Catalyst Trusteeship Limited, acting as the onshore security agent, has disclosed an increase in pledged shares of Eureka Forbes Limited. An additional 22,319,748 equity shares have been pledged, bringing the total encumbered shares to 98,688,477, representing approximately 51.00% of the total voting capital. This disclosure is made under SEBI regulations following an amendment to a facility agreement.
Increased Share Encumbrance for Eureka Forbes
Catalyst Trusteeship Limited, in its capacity as the onshore security agent for certain lenders, has filed a disclosure regarding an increase in the encumbrance over Eureka Forbes Limited shares. This update, made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, details a new pledge of 22,319,748 equity shares of Eureka Forbes Limited.
Details of the Pledge
The additional pledge, created on 15 September 2026, signifies an increase in the total number of pledged shares to 98,688,477. This new encumbrance represents 11.53% of the issued and paid-up share capital of Eureka Forbes Limited. Consequently, the total holding of pledged shares, including previously pledged shares, now stands at 98,688,477 equity shares, accounting for approximately 51.00% of the total share capital and 47.34% of the total diluted share capital.
Background of the Facility Agreement
The pledge is in connection with an amended and restated facility agreement. Lunolux Limited, the borrower, has entered into this agreement with CSCGlobal Capital Markets (Singapore) Pte. Ltd. The agreement, dated 15 September 2026, amends the original facility agreement dated 1 May 2024. This amendment extends the facility’s tenor and increases the total commitment. The pledge of shares serves as security for the lenders under this facility.
No Beneficial Interest
Catalyst Trusteeship Limited has clarified that as of the disclosure date, it does not hold any beneficial interest in the pledged shares. The shares are held in its favour solely in its capacity as a pledgee.
Source: BSE
