PAGAC Ecstasy Pte. Ltd., a promoter of Nuvama Wealth Management Limited (NWM), has disclosed an increase in the amounts secured by existing encumbrances on its shares. The total value of shares encumbered has risen to approximately ₹174,238 crore as of September 9, 2026. This update pertains to overseas facilities availed by PAGAC Ecstasy and affects 52.57% of Nuvama Wealth’s total share capital.
Promoter Share Encumbrance Update
PAGAC Ecstasy Pte. Ltd. has provided an update regarding the encumbrance of its shares in Nuvama Wealth Management Limited (NWM). This disclosure, made on September 11, 2026, follows a previous filing on December 20, 2024, concerning certain encumbrances created for personal overseas facilities.
Increased Secured Amounts
The primary update from this disclosure is the increase in the underlying amounts secured by these encumbrances. The total secured amount has risen from USD 265,000,000 to USD 450,000,000, as per the terms of the Amended and Restated Facility Agreement dated September 9, 2026. This signifies a substantial increase in the financial obligations associated with the pledged shares.
Details of Encumbrance
The encumbrance pertains to 9,69,60,340 shares, representing 52.57% of Nuvama Wealth Management’s total share capital. The shares are pledged by PAG Ecstasy and are held for the benefit of lenders and agents under the facility agreement. The total value of these encumbered shares as of September 9, 2026, was calculated to be INR 174,238,700,583, based on a volume-weighted average price of INR 1,797 per share.
No New Encumbrances
It is explicitly stated that no new pledges or further encumbrances have been created over any additional equity shares of Nuvama Wealth Management held by PAG Ecstasy since the last disclosure. The existing encumbrances are described as a pledge and restrictions on creating further security or disposing of shares, except as permitted under the facility agreement. This pertains to both PAG Ecstasy’s direct shareholding and the broader shareholding of its parent entity, PAG Ecstasy II Pte. Ltd.
Source: BSE
