Mac Charles promoters encumber 51% stake for debenture covenant

Embassy Property Developments Private Limited, a promoter of Mac Charles (India) Limited, has disclosed an encumbrance on 51% of the paid-up share capital of Mac Charles (India). This disclosure, dated December 12, 2025, complies with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The encumbrance arises from a debenture trust deed dated December 8, 2025, between Mac Charles Hub Projects Private Limited (a wholly-owned subsidiary of Mac Charles) and Catalyst Trusteeship Limited for ₹5,400,000,000 in non-convertible debentures. A key term of this deed stipulates that if Embassy Property Developments Private Limited and Jitendra Virwani cease to collectively own or control at least 51% of Mac Charles's fully diluted share capital, the debt becomes repayable.

Catalyst Trusteeship Limited, as the debenture trustee, also filed a separate disclosure on December 11, 2025, confirming the creation of this encumbrance over 6,681,537 shares, representing 51.00% of the total and diluted share capital of Mac Charles (India) Limited. The total equity share capital of Mac Charles (India) before and after this event is ₹13,10,10,520, comprising 13,101,052 shares of Face value of ₹10 each.