| Ellico International Limited faces significant share pledges totaling approximately 18.1 million shares, representing roughly 110% of its share capital, to secure debt obligations for its promoter group, IGE (India) Private Limited, and Zenox Technology Services Private Limited. The pledges, held by CTL Trusteeship Limited, initially secured INR 120 crores and INR 300 crores in unlisted debentures, respectively. A non-disposal undertaking covers an additional 1.67 million shares, restricting their sale. Kotak Mahindra Bank Limited is the current lender, succeeding DSP Finance Private Limited. The borrowed funds are intended to finance the acquisition of Ellico International Limited equity shares, and a facility agreement aims to prevent dilution of promoter shareholding. These arrangements were disclosed to the BSE Limited on June 19 and July 14, 2026, following initial pledge agreements on June 17, 2026. |