IDBI Trusteeship Reduces Stake in Parsvnath Developers Following Debenture Default

IDBI Trusteeship Services Limited has executed a significant disposal of equity shares in Parsvnath Developers Limited, selling 88,90,984 shares through open market transactions on stock exchanges. The disposal was conducted under regulatory disclosure requirements pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details and Timeline

The share disposal occurred over an extended period from July 17 to December 22, through open market transactions on both NSE and BSE. IDBI Trusteeship Services acted in its capacity as debenture trustee and share pledge trustee for the benefit of lenders and debenture holders.

Parameter	Details
Shares Sold	88,90,984 equity shares
Transaction Period	July 17 to December 22
Mode of Sale	Open market through stock exchanges
Exchanges	NSE and BSE

Shareholding Impact

The transaction resulted in a notable reduction in IDBI Trusteeship Services' shareholding in Parsvnath Developers Limited. The disposal represents 2.04% of the company's total share capital.

Holding Period	Number of Shares	Percentage Holding
Before Disposal	3,15,79,549	7.26%
Shares Sold	88,90,984	2.04%
After Disposal	2,26,88,565	5.22%

Background and Rationale

The share disposal stems from events of default that occurred under the Debenture Trust Deed and related documents. These default events have remained uncured by Parsvnath Developers Limited, prompting action by the debenture holders. Following instructions from the debenture holders, IDBI Trusteeship Services proceeded with the sale of pledged equity shares through stock exchanges.

The shares were originally pledged by several promoter entities to secure debentures issued by Parsvnath Developers Limited. The pledging parties included:

Mr. Pradeep Jain
Mr. Pradeep Kumar Jain
M/s. Pradeep Kumar Jain Sons HUF
M/s. Parsnath and Associates Pvt Ltd

Company Capital Structure

Parsvnath Developers Limited maintains an equity share capital of ₹217.59 crores, consisting of 43,51,81,170 equity shares with a face value of ₹5.00 each. The total diluted share capital remains unchanged following this transaction.

Regulatory Compliance

IBDI Trusteeship Services emphasized that it does not operate as a trading entity in the securities market and does not acquire shares through purchase or investment activities. The sole purpose of the share disposal is to recover outstanding amounts due to debenture holders, rather than generating trading profits. Any future sales of pledged shares will be subject to prior instructions from debenture holders and will occur only if Parsvnath Developers continues to breach its payment obligations to debenture holders.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.99%	+1.33%	-16.78%	-40.37%	-50.39%	+138.75%

Parsvnath Developers has informed stock exchanges about the payment of regulatory fines totaling ₹1.53 lakh for delayed submission of its quarterly financial results. The real estate developer made this disclosure on December 19, 2025, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulation, 2015.

Fine Details and Payment

The company paid identical fines to both major Indian stock exchanges for the delay in submitting financial results for the quarter and half-year ended September 30, 2025.

Exchange	Fine Amount	Payment Date
BSE Limited	₹76,700	December 18, 2025
National Stock Exchange	₹76,700	December 18, 2025
Total Fine	₹1,53,400	-

The fines were levied under Regulation 33 of the Listing Regulations for failing to submit the financial results within the prescribed timeline. Both exchanges had given the company 15 days from the date of their email notifications to make the payment.

Regulatory Compliance and Impact

Parsvnath Developers confirmed that there was no delay or default in the payment of these fines once they were levied by the stock exchanges. The company has assured that this regulatory penalty will have no material impact on its financial, operational, or other business activities.

The disclosure was made in accordance with clause 20 of para A of Part A of Schedule III of SEBI Listing Regulations, which mandates listed companies to inform exchanges about any fines or penalties imposed by regulatory authorities. This transparency requirement ensures that investors and stakeholders are kept informed about regulatory compliance matters.

Company Communication

The intimation was signed by Atul Kumar Gupta, Company Secretary and Compliance Officer of Parsvnath Developers Limited. The company has requested the stock exchanges to acknowledge receipt of this disclosure and maintain it in their records.

This regulatory fine represents a compliance matter related to the timely submission of financial results, which is a critical requirement for maintaining transparency in the capital markets and ensuring investor confidence in listed companies.