Tilaknagar Industries has received a new regulatory disclosure from Catalyst Trusteeship Limited regarding encumbrance arrangements for a working capital facility. The disclosure, filed on December 26, 2025, under SEBI Takeover Regulations, details a separate financing arrangement distinct from the previously disclosed Imperial Blue acquisition financing.

Latest Regulatory Filing Details

Catalyst Trusteeship Limited, acting as the common security trustee, submitted the disclosure under Regulation 29(1) read with Regulation 29(4) of SEBI Takeover Regulations. The filing relates to a non-disposal undertaking executed by promoter Amit Dahanukar on December 22, 2025, for the company's working capital facility requirements.

Working Capital Facility Structure

The new financing arrangement involves encumbrance over equity shares as detailed below:

Current Lender Consortium

The working capital facility is currently supported by a focused lender group:

Key Undertaking Terms

Under the relevant undertaking executed on December 22, 2025, Amit Dahanukar has committed to several conditions. The promoter group, including Mrs. Shivani Amit Dahanukar, Ms. Priyadarshini Dahanukar, Mrs. Anupama Dahanukar, ML Dahanukar and Company Private Limited, and Arunodoy Investments Private Limited, will maintain at least 26% shareholding on a fully diluted basis.

Share Capital Structure

The company's current capital structure as per the latest filing:

Compliance and Control Provisions

The undertaking includes provisions for maintaining board representation and control of the company. Amit Dahanukar has agreed to continue as a director and retain control while refraining from creating encumbrances except for acquisition-related financing. Any breach of terms will constitute an event of default under the working capital facility, ensuring strict compliance with the financing arrangement.

Tilaknagar Industries Ltd. , a prominent player in the Indian spirits industry, has taken a significant step to enhance employee engagement and align interests with shareholders. The company's Finance Committee has approved the allotment of 3,32,075 equity shares under its Employee Stock Option Plan (ESOP) schemes.

Key Details of the ESOP Allotment

• Number of Shares Allotted: 3,32,075
• Face Value per Share: Rs. 10
• Increase in Paid-up Equity Share Capital:
  • Before Allotment: Rs. 246,83,87,500
  • After Allotment: Rs. 247,17,08,250

This move represents a strategic decision by Tilaknagar Industries to incentivize and retain talent while potentially boosting employee morale and productivity.

Impact on Share Capital

The allotment has resulted in a modest increase in the company's paid-up equity share capital. Here's a breakdown of the change:

Implications and Next Steps

1. The newly allotted shares will rank pari-passu with existing equity shares, ensuring equal rights for all shareholders.
2. Tilaknagar Industries will apply for listing and trading approval of these shares on the stock exchanges.
3. This allotment may potentially increase liquidity in the stock over time as employees exercise their options.

As Tilaknagar Industries continues to grow, this ESOP allotment demonstrates the company's commitment to aligning employee interests with those of the shareholders. The impact of this strategy on the company's performance and employee retention will be observed in the coming periods.