Promoters of Leela Palaces Hotels & Resorts (formerly Schloss Bangalore) have encumbered their entire 75.90% stake in the company.

SB

Schloss Bangalore LimitedFiled with the exchange

This action secures a term loan facility of up to US$ 500 million (approx. ₹4,150 Cr) for the promoters from a consortium of lenders, with DB Trustees (Hong Kong) Limited acting as the offshore security agent.

This means the promoters' full shareholding is now pledged. #LeelaPalaces #CorporateAction #PromoterHolding

Read the original filing(PDF)

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