Tilaknagar Industries promoters encumber shares for financing deal

Amit Dahanukar and the promoter group of Tilaknagar Industries Limited have disclosed an encumbrance on their equity shares. This disclosure, dated December 1, 2025, details a Non-Disposal Undertaking (NDU) executed on November 20, 2025, in favor of Catalyst Trusteeship Limited for the company's financing arrangements.

The NDU covers 26,844,552 shares, representing 12.89% of the total share capital, without involving a direct pledge or lien on these shares. Additionally, Mrs. Shivani Amit Dahanukar has pledged 1,570,000 equity shares as part of these arrangements. The financing, involving lenders such as ICICI Bank and JPMorgan Chase Bank, is intended to facilitate the acquisition of Imperial Blue Brands from Pernord Ricard India Pvt Ltd.

The promoters have agreed to maintain at least 26% shareholding, refrain from further encumbrances except for acquisition-related financing, and ensure Amit Dahanukar remains a director with control over the company. The total promoter shareholding in Tilaknagar Industries is 77,458,460 shares, amounting to 37.20%, with 81.59% of these shares now encumbered.