More Details on This News

Tilaknagar Industries Limited (TI) has disclosed the creation of a non-disposal undertaking (NDU) by its promoter group, Amit Dahanukar, and associated entities, impacting 10.92% of the company's total share capital. The NDU was created on December 22, 2025, in favor of Catalyst Trusteeship Limited, acting as the common security trustee for lenders including ICICI Bank Limited and Kotak Mahindra Bank Limited.

This undertaking pertains to financing arrangements of the Target Company and ensures that the promoter group will maintain at least 26% shareholding on a fully diluted basis. Under the terms, Amit Dahanukar will refrain from creating further encumbrances on his shares, except for acquisition-related financing, and will continue as a director, retaining control of the company. Transfer or restructuring of ownership of his shares requires prior consent from the lenders. Any breach of these terms could trigger mandatory prepayment of the facility and constitute an event of default.

It is clarified that there is no pledge on these equity shares; the encumbrance is solely through the furnishing of these undertakings. The NDU covers 2,68,44,552 shares held by Amit Dahanukar, representing 10.92% of the total share capital. For Shivani Amit Dahanukar, 98,05,900 shares (3.99% of total share capital) are now encumbered under this NDU, with her post-event holding of encumbered shares at 11.60%. The reason for this encumbrance is to support working capital facilities for Tilaknagar Industries Ltd.