JSCEL pledges shares for ₹143 Cr NCDs
Veranda Learning Solutions Ltd (VLS) announced that its subsidiary, J.K. Shah Commerce Education Limited (JSCEL), has executed a Pledge Agreement on October 13, 2026. This agreement serves to secure Non-Convertible Debentures (NCDs) amounting to ₹143 Crores (Rupees One Hundred and Forty-Three Crore Only) previously issued by JSCEL. As part of the agreement, JSCEL pledged 5,100 equity shares in BB Publication Private Limited and 26,50,725 equity shares in Tapasya Educational Institutions Private Limited in favor of SBICAP Trustee Company Limited, acting as the debenture trustee. This pledge is a standard security arrangement for the NCDs and does not alter the ownership or management of the pledged subsidiaries, nor does it negatively impact the company's operations. The pledge can only be invoked if specific events of default occur, none of which have happened to date.
Key Highlights
- JSCEL, a VLS subsidiary, pledged shares to secure ₹143 Cr NCDs.
- Shares in BB Publication and Tapasya Educational Institutions were pledged.
- The pledge secures up to 14,300 Senior, Unlisted, Secured NCDs.
- SBICAP Trustee Company Limited is the debenture trustee for the NCDs.
- The pledge is a customary security and does not affect ownership or operations.
Price Impact
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