TVS Supply Chain Solutions Limited has disclosed the pledge of an additional 5 crore equity shares, valued at approximately ₹120 crore, in favour of Catalyst Trusteeship Limited, acting as the debenture trustee on behalf of multiple debenture holders. The pledge, executed on December 8, 2025, adds to a previous pledge of 7 crore shares made in April 2025. In total, 6.05 crore shares are now encumbered, representing 13.71% of the company’s total share capital.
The disclosure has been made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring transparency for shareholders and market participants.
Share Pledge Details
The latest pledge strengthens the security framework for debenture holders and updates the cumulative encumbrance on company shares.
Key Parameters of the New Pledge
| Parameter | Details |
| Latest Pledge Date | December 8, 2025 |
| Shares Pledged | 5,00,00,000 equity shares |
| Estimated Value | ~₹120 crore |
| Previous Pledge | 7,00,00,000 shares (April 11, 2025) |
| Total Pledged Shares Now | 6,05,00,000 equity shares |
The earlier pledge in April 2025 did not require any disclosure under Regulation 29, as it did not meet the threshold for triggering reporting obligations.
Impact on Shareholding Structure
The additional pledge revises the company’s encumbrance levels, affecting its overall shareholding metrics.
Shareholding Impact
| Shareholding Metric | Before Pledge | After Pledge |
| Pledged Shares | 4,85,00,000 | 6,05,00,000 |
| % of Total Share Capital | 10.71% | 13.71% |
| % of Diluted Share Capital | – | 13.40% |
The cumulative pledge represents a substantial portion of the promoter and company-held equity, forming the security package for ongoing debt obligations.
Debenture Holders Involved
Catalyst Trusteeship Limited is acting on behalf of a consortium of domestic and global financial institutions, indicating strong institutional involvement in the company’s debt structure.
Debenture Holders Include:
- OMERS Capital Markets Asia Holdings Pte. Ltd.
- J.P. Morgan Securities India Private Limited
- Nippon India Credit Opportunities AIF – Scheme 1
- DSP Finance Private Limited
- Nomura Capital (India) Private Limited
- Kotak Private Credit Fund
- RV Capital India Credit Plus Fund
- OCM Asia Credit I Pte. Ltd.
- Jio Finance Limited
These entities form a diversified lender base, signalling the company’s extensive access to structured credit lines.
Capital Structure Overview
Despite the increased pledge activity, the company’s equity capital remains stable.
| Capital Parameter | Amount |
| Equity Share Capital | ₹44,11,80,027 |
| Total Number of Equity Shares | 44,11,80,027 |
| Face Value per Share | ₹1.00 |
| Diluted Share Capital | 44,57,98,352 shares |
The share capital structure indicates no alterations in the paid-up capital due to the pledge, as the encumbrance only affects ownership rights, not issuance.
Regulatory and Compliance Aspects
The pledge includes specific covenants, potentially requiring the company to pledge additional shares should the security cover fall below stipulated levels.
The disclosure was filed by Catalyst Trusteeship Limited, through authorized signatory Deesha Srikkanth (Senior Vice President), Mumbai.
TVS Supply Chain Solutions’ shares are listed on both the BSE and the NSE, ensuring full transparency in compliance with SEBI norms.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
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