Cohance Lifesciences shares pledged over 54% as security for term loan

What Cohance Lifesciences announced

On 19 June 2026, Cohance Lifesciences Ltd (formerly Suven Pharmaceuticals Ltd) filed a disclosure under Regulation 29(1) of the SEBI Substantial Acquisition of Shares & Takeovers (SAST) Regulations, 2011. The filing, made by Catalyst Trusteeship Ltd in its capacity as the on‑shore security agent, details a substantial pledge of the company’s equity shares by its two promoters – Berhyanda Limited and Jusmiral Holdings Limited – to secure term‑loan facilities.

The pledge covers 207,974,582 shares, which equals 54.36 % of the total share capital of Cohance Lifesciences. This represents a first‑ranking, exclusive security interest that came into effect on 17 June 2026.

Details of the pledge

• Promoter holdings before pledge: Berhyanda Limited held 127,539,592 shares (33.34 % of total capital), while Jusmiral Holdings Limited held 92,390,578 shares (24.15 % of total capital).
• Pledged portion: The on‑shore pledge agreement dated 16 June 2026 created a first‑ranking pledge over 207,974,582 shares (54.36 %) – comprising the entire holding of Berhyanda and 80,434,990 shares (21.02 %) of Jusmiral’s stake.
• Extended encumbrance: In addition to the on‑shore pledge, the facility agreement imposes covenants covering 219,930,170 shares (57.49 % of total capital), reflecting a broader set of restrictions on disposal and creation of further security.
• Effective dates: The pledge and related covenants became operative on 16 June 2026, with the first‑ranking pledge formally effective on 17 June 2026.
• Security agents: Catalyst Trusteeship Ltd is the on‑shore security agent. CSC Global Capital Markets (Singapore) Pte. Ltd. serves as the offshore security agent, acting on behalf of the lenders.

Facility agreement and loan terms

The pledged shares secure term‑loan facilities granted by a consortium of lenders (identified in the accompanying note to the filing). Key points of the facility agreement, dated 11 June 2026, include:

• Loan purpose: To provide working‑capital and growth financing to Cohance Lifesciences.
• Security package: The pledged shares constitute the primary collateral, with additional covenants restricting the promoters from disposing of or further encumbering the pledged equity.
• Covenants: Both the pledge agreement and the facility agreement contain restrictions on share disposal, creation of any further security, and other encumbrances, all of which are enforceable from 16 June 2026.
• Agents: The facility is administered by an on‑shore security agent (Catalyst Trusteeship Ltd) and an offshore security agent (CSC Global Capital Markets (Singapore) Pte. Ltd.).

Key facts at a glance

Why this matters for investors

The pledge creates a significant encumbrance over more than half of Cohance Lifesciences’ equity. For shareholders, this means that a large portion of the company’s free‑float is subject to lender control, limiting the promoters’ ability to sell or further pledge those shares without lender consent. The arrangement also signals that the promoters have accessed substantial debt financing, which could affect the company’s capital structure and future cash‑flow allocation.

From a regulatory perspective, the filing satisfies SEBI’s requirement to disclose material share‑encumbrance events, ensuring market transparency. However, the pledge does not, by itself, alter the number of shares outstanding or trigger any dilution; it merely places a lien on existing shares.

Investors should monitor any subsequent filings that may disclose the utilisation of the loan, repayment schedules, or any changes to the security package, as these could have implications for the company’s financial health and governance.

Conclusion

Catalyst Trusteeship Ltd, acting as the on‑shore security agent, disclosed that the promoters of Cohance Lifesciences have pledged 207.97 million shares (54.36 % of capital) as first‑ranking security for term‑loan facilities. The pledge, effective from 17 June 2026, is part of a broader encumbrance covering 57.49 % of the company’s shares under the facility agreement dated 11 June 2026. The filing satisfies SEBI’s disclosure requirements, but investors should keep an eye on future updates regarding loan utilisation and any potential impact on the company’s financial position.