The promoters of Kalyan Jewellers India Limited (KJIL) have pledged an additional 2.55 crore shares, representing 2.47% of the company’s total shareholding, as security for Non-Convertible Debentures (NCDs). This disclosure was made by Catalyst Trusteeship Limited, the debenture trustee overseeing the pledged shares on behalf of KJG Consulting Private Limited and the promoters of Kalyan Jewellers.
Key Details of the Pledge:
- Shares pledged: 2,55,37,339 shares (2.47% of total share capital).
- Promoters involved:
- Mr. Trikkur Kalyanaraman Seetharam
- Mr. Trikkur Kalyanaram Ramesh
- Mr. Thrikur Seetharamaiyer Kalyanaraman
These shares have been pledged in favor of debenture holders including OCM India Opportunities XII Alternate Investment Fund and Touchstone Trust Scheme VII under the terms of the Debenture Trust Deed dated September 25, 2024. The debenture arrangement provides comfort and security to lenders under the issuance of non-convertible debentures.
Pledge Details:
- Before the pledge: The promoters had 8.51 crore shares encumbered, representing 8.26% of the total shareholding.
- After the pledge: The total number of pledged shares increased to 11.07 crore shares, representing 10.73% of the company’s total share capital.
The shares were pledged by Mr. Trikkur Kalyanaraman Seetharam and Mr. Trikkur Kalyanaram Ramesh under an Unattested Share Pledge Agreement dated September 24, 2024. The pledge was created on February 3, 2025, as additional security for NCDs issued by the company.
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