Leela Palaces Hotels & Resorts Limited has disclosed the creation of a pledge over approximately 55.91% of its total share capital, amounting to 18,67,06,528 shares. This encumbrance, executed on June 24, 2026, involves entities acting as promoters and is in favor of Catalyst Trusteeship Limited. The pledge is part of a larger facility agreement and secures a loan facility of US$ 500,000,000, impacting promoter control over the company’s equity.
Significant Share Pledge by Promoters
Leela Palaces Hotels & Resorts Limited announced the encumbrance of a substantial portion of promoter shares. A new pledge agreement, dated June 24, 2026, has resulted in a direct pledge over 18,67,06,528 equity shares. This represents 55.91% of the target company’s share capital and constitutes 73.67% of the Promoters’ total shareholding.
Details of the Encumbrance
The pledge was created in favor of Catalyst Trusteeship Limited, acting as the Onshore Security Agent, for the benefit of secured parties identified within a Facility Agreement. The encumbrance stems from a loan facility of up to US$ 500,000,000 (United States Dollars Five Hundred Million). The purpose of this facility includes payments or distributions to promoters, repayment of shareholder loans, and transaction costs related to the loan.
Promoter Group Disclosure
The shares encumbered are held by various entities within the promoter group, including Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, BSREP III Tadoba Holdings (DIFC) Pvt Ltd, Project Ballet HMA Holdings (DIFC) Pvt Ltd, Project Ballet Chennai Holdings (DIFC) Pvt Ltd, BSREP III Joy Two Holdings (DIFC) Limited, Project Ballet Udaipur Holdings (DIFC) Pvt Ltd, and Project Ballet Gandhinagar Holdings (DIFC) Pvt Ltd. The total promoter shareholding in the listed company is 25,34,98,104 shares, representing 75.91% of the total share capital as of March 31, 2026.
Security Cover and Loan Details
The value of the shares encumbered, based on the closing price on the BSE Limited as of June 24, 2026, is INR 9,126,21,50,886.40. The amount involved against which these shares have been encumbered is US$ 500,000,000. The ratio of the asset value to the encumbered amount (A/B) is 1.93.
Source: BSE
