Medplus Health Services Limited disclosed that shares of the company have been encumbered to secure debt obligations for both the listed company and its promoter, Madhukar Reddy Gangadi. The pledges are primarily linked to the retirement of Non-Convertible Debentures (NCDs) issued by Agilemed Investments Private Limited and Lone Furrow Investments Private Limited, with some additional pledges intended to maintain the Security Cover Ratio for existing debt. As of November 10, 2023, Madhukar Reddy Gangadi pledged 4,500,000 shares, valued at approximately Rs 1.07 billion, while Medplus Health Services Limited pledged 1,800,000 shares, valued at approximately Rs 436.7 million. Catalyst Trustees Limited serves as the security trustee for the NCD holders.