According to the information given on September 25, 2025, shares of Leela Palaces Hotels & Resorts Limited have been pledged.
Project Ballet Bangalore Holdings (DIFC) Private Limited, BSREP III Tadoba Holdings (DIFC) Private Limited, Project Ballet Holdings (DIFC) Private Limited, Project Ballet Chennaiai Holdings (DIFC) Private Limited, BSREP III Joy (two) Holdings (DIFC) Limited, Project Ballet Udaipur Holdings (DIFC) Private Limited, and Project Ballet Gandhinagar Holdings (DIFC) Private Limited, collectively called “promoter”, has pledged his shares.
BSREP III India Ballet Holdings (DIFC) Limited, who is working as a promoters holding company (“Holdco”), has also entered a reality agreement.
Promoters and Holdco signed a decision on September 19, 2025 as some lenders, Dr. য়ে Che Bank AG, Hong Kong Branch as Agent, and keeping DB Trustees (Hong Kong) Limited as an offshore security agent.
In order to secure a term loan of up to US $ 50 million taken by promoters, in favor of the offshore security agent, a charge has been made at 100 percent of the share capital issued by HoldCO in each promoter, it has been made between HoldCO and Offshore Security Agents according to the share charge and assignment deed.
Under the Facility Agreement, the promoters have agreed to some contracts related to the target company’s equity share capital held by promoters, which are more effective in the nature of mortgaging from September 19, 2025.
| Promoter | Number of pledged shares | Total share capital percentage |
|---|---|---|
| Project Ballet Bangalore Holdings (DIFC) Private Limited | 15,29,96,805 | 45.81 percent |
| BSREP III Tadoba Holdings (DIFC) Private Limited | 4,37,18,481 | 13.09 percent |
| Project Ballet HMA Holdings (DIFC) Private Limited | 1,96,33,814 | 5.88 percent |
| Project Ballet Chennai Holdings (DIFC) Private Limited | 1,63,34,180 | 4.89 percent |
| BSREP III Joy (two) Holdings (DIFC) Limited | 1,12,81,396 | 3.38 percent |
| Project Ballet Udaipur Holdings (DIFC) Private Limited | 66,87,985 | 2.00 percent |
| Project Ballet Gandhinagar Holdings (DIFC) Private Limited | 28,45,443 | 0.85 percent |
The listed company has a total promoter shareholding 25,34,98,104 shares, which is 75.91 percent of the total share capital. The mortgage company contains 100 percent of the promoters shareholding in the target company.
The shares have been mortgaged as an offshore security agent in favor of DB Trustees (Hong Kong) Limited and as Dr. Cha Bank AG, Hong Kong Branch Agent.
The amount borrowed is to be used for payment or distribution to the promoters’ investors, repayment of shareholder loans of promoters and transactions related to US $ 50 million term loan facility.
Leela Palaces Hotels & Resorts Limited, BSE Limited and National Stock Exchange of India Limited.
The amount borrowed is to be used for payment or distribution to the promoters’ investors, repayment of shareholder loans of promoters and transactions related to US $ 50 million term loan facility.