Aster DM Quality Care promoter BCP Asia II Topco IV Pte. Ltd. has created an encumbrance over its entire shareholding in the listed entity. The pledge covers 25,89,52,574 equity shares, representing 29.71% of the company’s total share capital.

The disclosure was filed with the Bombay Stock Exchange and the National Stock Exchange on August 21, 2026, pursuant to Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Loan Facility Details

The encumbrance was created under a facility agreement dated August 19, 2026, to secure term loan facilities of up to USD 750 million. The loan agreement involves multiple international lenders, including Barclays Bank Plc, Citibank N.A., Deutsche Bank AG, and J.P. Morgan Securities Plc.

Axis Trustee Services Limited acts as the Onshore Security Agent, while Deutsche Bank AG, Singapore Branch, serves as the Agent. DB International Trust (Singapore) Limited is designated as the Offshore Security Agent.

Structure of Encumbrance

The pledge comprises two distinct components effective from August 19, 2026:

• A first-ranking exclusive pledge over 24,89,52,574 shares (28.56% of total share capital) in favor of the Onshore Security Agent.
• Conditions in the nature of encumbrance over 25,89,52,574 shares (29.71% of total share capital) in favor of the Agent and Offshore Security Agent.

Use of Proceeds

According to Annexure II of the disclosure, the borrowed funds will be utilized for the payment of dividends and other distributions to shareholders of the Borrower. The facility will also indirectly refinance the existing indebtedness of BCP Asia II Topco IV Pte. Ltd. in full, along with covering associated fees, costs, and expenses.

What the Numbers Show

The value of the pledged shares stood at INR 199,211.8 crore as of August 19, 2026, based on the closing price on the National Stock Exchange. This provides an asset cover ratio of 2.77x against the loan amount of INR 71,810.8 crore (equivalent to USD 750 million at the exchange rate of USD 1 = INR 95.7477). The high coverage ratio indicates significant collateral buffer relative to the debt obligation.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE914M01019/1a148626-e064-49aa-949c-8cb4b7f23db7.pdf

Centella Mauritius Holdings Limited has disclosed a corrected shareholding of 9.90% in Aster DM Quality Care , revising previous reports that cited a 9.7% pledged stake. The disclosure, filed on August 20, 2026, clarifies discrepancies in automated system-driven filings regarding the post-merger equity structure.

The correction arises from the amalgamation of Quality Care India Limited (QCIL) into Aster DM Healthcare Limited. While an earlier disclosure on August 19, 2026, indicated a pledge of 84.4 million shares (9.7%), the updated filing reveals Centella’s total holding is 86,317,533 shares. This represents a significant upward revision in both absolute share count and percentage ownership.

Corrected Shareholding Structure

The new data supersedes the earlier pledge-centric view by detailing the total acquisition mechanics under the Scheme of Amalgamation sanctioned by the NCLT Hyderabad Bench on June 19, 2026. The share exchange ratio was fixed at 977 equity shares of Aster DM Quality Care for every 1,000 shares held in QCIL.

The pre-merger holding of 4,651,992 shares constituted 0.90% of the capital, not the 0.5% previously implied in some contexts relative to the expanded post-merger base. The merger added 81,665,541 shares, bringing the total paid-up equity capital to 871,672,439 shares of ₹10 each.

What the Numbers Show

The discrepancy between the initial 9.7% figure and the corrected 9.90% highlights the complexity of automated disclosures in large corporate actions. The initial report focused on pledged shares (84.4 million), likely reflecting a subset of the total holding or a specific encumbrance tranche. The corrected filing clarifies that Centella’s total voting rights stand at 86.3 million shares. This 0.2 percentage point difference, while seemingly small, represents over 1.8 million additional shares not captured in the initial pledge-focused narrative, underscoring the importance of verifying system-driven disclosures against manual regulatory filings under Regulation 29(1) of the Takeover Code.