BCP Topco IX Pte. Ltd., a promoter of Mphasis Limited, has pledged 58,299,642 equity shares, representing 30.55% of the company’s total share capital. The pledge, created in favor of Catalyst Trusteeship Limited acting as the Onshore Security Agent, serves as collateral for term loan facilities under a May 12, 2026 facility agreement. This arrangement also includes specific covenants, such as negative liens and non-disposal undertakings, which became effective on May 15, 2026.
Details of the Share Pledge
The promoter of Mphasis Limited, BCP Topco IX Pte. Ltd., has finalized a pledge over its significant shareholding in the company. The encumbrance involves 58,299,642 shares, which accounts for approximately 30.55% of the total equity capital. This move was initiated to secure financial credit facilities provided by a consortium of international lenders.
Consortium of Lenders
The facility is backed by a diverse group of major financial institutions. The participating lenders include Citibank, N.A. (London Branch), Barclays Bank PLC, MUFG Bank, Ltd. (Singapore Branch), The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley Bank, N.A., BNP Paribas (Hong Kong Branch), Deutsche Bank AG (Singapore Branch), J.P. Morgan Securities PLC, and Nomura Singapore Limited.
Operational Covenants
Beyond the primary pledge of shares, the agreement mandates strict financial and operational covenants to protect the interests of the lenders. These include negative lien and non-disposal undertakings, which prevent the borrower from further encumbering or transferring the pledged assets without appropriate authorization. These restrictive covenants were formally activated on May 15, 2026, ensuring the stability of the security package throughout the duration of the loan term.
Source: BSE
