Catalyst Trusteeship Limited, acting as an onshore security agent, has disclosed an encumbrance on 6,18,85,880 equity shares of Nuvama Wealth Management Limited. This represents 33.90% of the total share capital, as per SEBI regulations. The encumbrance is related to a loan facility provided to PAGAC Ecstasy Pte. Ltd. The disclosure highlights a significant portion of the company’s shares being pledged, impacting potential future control or ownership changes.
Encumbrance on Nuvama Wealth Shares Revealed
Catalyst Trusteeship Limited has formally disclosed an encumbrance affecting a substantial block of shares in Nuvama Wealth Management Limited. This disclosure, made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, pertains to shares held by PAGAC Ecstasy Pte. Ltd.
Key Details of the Encumbrance
The encumbrance covers 6,18,85,880 equity shares of Nuvama Wealth Management Limited. This holding constitutes 33.90% of the total share capital and 32.83% of the total diluted share capital. These shares were pledged as part of a facilities agreement, where PAGAC Ecstasy Pte. Ltd. availed a loan from various lenders. Catalyst Trusteeship Limited acts as the onshore security agent for these lenders.
Background of the Pledge
The pledge agreement was executed on December 18, 2024. Initially, the pledge covered 1,23,77,176 equity shares, but due to a stock split by Nuvama Wealth Management in December 2025, the number of pledged shares increased to 6,18,85,880. The value secured by this encumbrance has also increased from USD 265,000,000 to USD 450,000,000, as per an agreement dated September 9, 2026.
Impact on Shareholding
The disclosure indicates that prior to this acquisition/sale, the shares held by PAGAC Ecstasy were not encumbered. However, after the transaction, 6,18,85,880 shares are encumbered. No further pledges have been created on other equity shares held by PAG Ecstasy. This significant encumbrance is a material development concerning the shareholding structure of Nuvama Wealth Management Limited.
Source: BSE
