Jusmiral Holdings Limited and Berhyanda Limited, promoters of Cohance Lifesciences Limited (“TC”), have detailed the encumbrance of their shares related to a significant term loan facility. A Facility Agreement executed on June 11, 2026, involves a USD 285,000,000 term loan. This has led to various covenants and pledges affecting their shareholdings in TC, amounting to substantial portions of the total paid-up share capital. The encumbrances were created to secure the loan, impacting significant percentages of promoter shareholding.
Promoter Share Encumbrance for Term Loan Facility
Cohance Lifesciences Limited (“TC”) has provided details regarding the encumbrance of shares by its promoters, Jusmiral Holdings Limited and Berhyanda Limited. This encumbrance is a consequence of a Facility Agreement executed on June 11, 2026, for term loan facilities aggregating to USD 285,000,000. The loan is being availed by the borrowers from various Lenders.
Key Promoters and Shareholding
The identified promoters are Jusmiral Holdings Limited, holding 92,390,578 shares (24.15% of total share capital), and Berhyanda Limited, holding 127,539,592 shares (33.34% of total share capital). Collectively, these promoters hold 219,930,170 equity shares, representing 57.49% of the total paid-up share capital of TC.
Details of the Facility Agreement and Encumbrances
The Facility Agreement, effective from June 16, 2026, outlines terms that constitute encumbrances on the shareholdings. Commitments under this agreement are split between Berhyanda Limited (USD 233,500,000) and Jusmiral Holdings Limited (USD 51,500,000). These encumbrances are created to secure the aggregate facility amount.
Jusmiral Holdings Limited
Jusmiral Holdings Limited, a promoter, has agreed to covenants and a TC Share Pledge, resulting in restrictions on disposal and security creation for its shareholding in TC. Furthermore, a first-ranking exclusive pledge has been created over 80,434,990 equity shares of TC (21.02% of total share capital) in favor of the Onshore Security Agent. Jusmiral Midco Limited, a holding company, has also agreed to similar restrictions regarding its shareholding in Jusmiral Holdings Limited.
Berhyanda Limited
Berhyanda Limited, also a promoter, is subject to covenants under the Facility Agreement and a TC Share Pledge, leading to restrictions on its shareholding. A first-ranking exclusive pledge has been created over 127,539,592 equity shares of TC (33.34% of total share capital) in favor of the Onshore Security Agent. Berhyanda Midco Limited, a holding company, has similarly agreed to restrictions concerning its shareholding in Berhyanda Limited.
Summary of Encumbrances
Several distinct encumbrances (Encumbrance 1 through 8) have been detailed, stemming from covenants and pledges under the Facility Agreement and specific share pledges (Jusmiral Share Pledge and Berhyanda Share Pledge). These events, primarily dated around June 16, 2026 and June 17, 2026, involve various restrictions and pledges on the equity shares held by the promoter entities, directly or indirectly, in TC.
The encumbered shares constitute significant percentages of the promoter shareholding and total share capital, specifically impacting 24.15% of the total share capital through Jusmiral Holdings Limited and 33.34% through Berhyanda Limited. The total promoter shareholding encumbered is also substantial.
Source: BSE
