19-Aug-2026      20:43

Ellico International shares pledged as security for loans backing Zenox Technology Services acquisition

Ellico International Limited faces encumbrances on a significant portion of its shares, according to recent filings. IGE (India) Private Limited has pledged 9,82,97,894 shares, representing 58% of the company’s share capital, as security for INR 120 Crores in debentures initially backed by DSP Finance Private Limited. Subsequently, an additional 8,64,34,355 shares, or 51% of the share capital, were pledged to Kotak Mahindra Bank Limited to secure a rupee term loan facility of INR 300 Crores for Zenox Technology Services Private Limited. These transactions, disclosed to the BSE Limited on June 19 and July 14, 2026, are governed by facility agreements and corporate guarantees, and include a non-disposal undertaking covering 1,67,48,431 shares. The borrowed funds are intended to finance the acquisition of Ellico International Limited’s equity.

News source: Capital Market - Live News