Themis Medicare530199Promoter pledge update

Promoter pledges 25 lakh equity shares, 2.71% of share capital, for NCDs

Promoter Vividhmargi Investments Private Limited has pledged 25 lakh equity shares.

By ScoutQuest · Wed 28 Oct 2026, 8:02 PM IST · 2 min read

7.6%Event holding of encumbered shares (% of total

Event holding of encumbered shares (% of total: 7.60%.

Shares Pledged: 25 lakh equity shares (2.71% of total share capital)
Total Encumbered Shares Post Event: 70,00,000 shares, or 7.60%
Amount Involved / Share Value: ~Rs. 23.8 crore share value against Rs. 135 crore amount involved

What was disclosed

A promoter of the company, Vividhmargi Investments Private Limited, has created an encumbrance on its shares. The update describes the event as a pledge of equity shares, created on 27th October, 2026, and reported to the exchanges on 28th October, 2026. The pledge is in favour of CTL Trusteeship Limited, which is acting as debenture trustee. The update names Kotak Credit Opportunities Fund as the lender, and says the pledge is in relation to non-convertible debentures.

Size of the pledge

Shares pledged: 25 lakh equity shares
As a share of total share capital: 2.71%
As a share of total promoter shareholding, as stated in the update: 4.05%
This promoter's holding in the company: 2,44,29,460 shares, or 26.52% of total
Encumbered shares with this promoter after the event: 70,00,000, or 7.60%

The update answers two threshold questions: whether the encumbered shares are 50% or more of promoter shareholding (answer: No) and whether they are 20% or more of total share capital (answer: No).

How the security is sized

The value of the shares on the date of the event is stated as ~Rs. 23.8 crore. The amount involved, against which the shares have been encumbered, is stated as Rs. 135 crore. The shares therefore secure a debt larger than the market value of the shares pledged, as recorded in the update.

What the money is for

The update states the end use of the borrowed amount as personal use by promoters and PACs. The borrowings are not described as being for the benefit of the listed company.

Background of the borrowing

The pledge is made under a Debenture Trust Deed. The issuer of the debentures is OSS Software Solutions Labs Private Limited. The instrument is described as unrated, unlisted, secured, redeemable non-convertible debentures. The other entities named in the agreement are OSS Software Solutions Pvt. Ltd, Vividhmargi Trust, Vividhmargi Investments Private Limited, Dr. Sachin Patel and Pharmaceutical Business Group (India) Ltd.

How a retail investor can read this

A promoter pledge does not change the number of shares the promoter owns, and it does not by itself affect the company's operations, earnings or balance sheet. It does mean a slice of the promoter's stake is committed as security for a loan taken outside the listed company. The disclosure tells you how large that committed slice is. Here, the new pledge is 2.71% of total share capital, and this promoter's total encumbered holding after the event is 7.60%. The update also tells you who borrowed and why: the money is for personal use by promoters and PACs, not for the company. The shares are held as security with a debenture trustee for debentures issued by another entity in the group. Pledges can be released when the underlying loan is repaid, and such releases are also required to be disclosed. This update records a creation of encumbrance, not a release or an invocation, so no shares have been sold or transferred as part of this event.

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