PAGAC Ecstasy Pte. Ltd., a promoter of Nuvama Wealth Management Limited, has disclosed the creation of encumbrances over an additional 3,50,74,460 equity shares. This action, dated October 30, 2026, was taken after the expiry of a regulatory lock-in period previously imposed on these shares. The encumbrance is in favor of the Onshore Security Agent for the benefit of lenders and agents, securing facilities availed by PAGAC Ecstasy. This disclosure is made in compliance with SEBI’s Takeover Regulations.
PAGAC Ecstasy Creates New Share Encumbrance
PAGAC Ecstasy Pte. Ltd., a promoter of Nuvama Wealth Management Limited (NWML), has filed a disclosure regarding the creation of encumbrances over an additional 3,50,74,460 equity shares. The date of creation for this new encumbrance is recorded as October 30, 2026. This action follows the expiry of a regulatory lock-in period that had previously restricted the disposal of these equity shares.
Compliance and Rationale
The encumbrance has been created in favor of the Onshore Security Agent, acting for the benefit of lenders and agents, as per the terms of a facility agreement. This is a supplementary disclosure in line with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. Previous disclosures regarding encumbrances were made on December 20, 2024, and September 11, 2026. The creation of this new pledge is not expected to increase the overall number of PAG Ecstasy’s shares in Nuvama Wealth Management that are encumbered since the last reported disclosures.
Background of Encumbrances
PAGAC Ecstasy had previously created pledges and restrictions on its equity shares in Nuvama Wealth Management for the purpose of raising financing. These actions are part of facilities availed by PAGAC Ecstasy for its personal use. The current disclosure specifically addresses the encumbrance of shares that were previously under a regulatory lock-in. The total promoter holding in Nuvama Wealth Management is 9,69,60,340 shares, representing 52.54% of the total share capital. The newly encumbered shares represent approximately 19.01% of the TC’s total equity share capital.
Source: BSE
