Promoters clarify no direct pledge on Horizon Industrial Parks shares

Horizon Industrial Parks Ltd received a disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The disclosure clarifies that promoter entities, including BREP Asia II Indian Holding Co VI (NQ) Pte. Ltd., BREP Asia II EIP Holding (NQ) Pte. Ltd., and BREP Asia III India Holding Co III Pte. Ltd., have agreed to certain covenants under a facility agreement that are in the nature of encumbrance on their shares in Horizon Industrial Parks. However, the company explicitly stated that these promoter entities have not created any direct pledge on the equity shares of Horizon Industrial Parks Limited. Instead, the parents of these promoter entities have created a pledge over their holdings in the respective promoter entities to secure the facility.