The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Wardwizard Solutions India Pvt Ltd & PACs

Pledge invokedPromoter pledge above 50%Ownership Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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Nifty Microcap 250market · in no size index; the smallest one is used+2.7%-6.1% vs market

Non Banking Financial Company (NBFC) peers, median of 205sector+0.8%-4.2% vs sector

On the reaction day the stock moved 6.1 pts less than Nifty Microcap 250 and 4.2 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Mangalam Industrial Finance Ltd has disclosed that 9,00,00,000 (9 crore) equity shares held by its promoter, Wardwizard Solutions India Pvt Ltd, have been invoked by the lender DY Captive Projects LLP on 13th March 2026. This was done to recover a Loan Against Securities (Shares) facility that had gone into default. As a result, Wardwizard Solutions' direct holding in the company has crashed from 7.40% (10.55 crore shares) to just 1.08% (1.55 crore shares). The PAC, Mr. Yatin Sanjay Gupte, continues to hold 5.98% (8.53 crore shares), bringing the combined promoter group holding down from 13.38% to 7.06% of the company's equity capital of approximately 14.25 crore shares. The invoked shares were previously pledged and represented 6.32% of the total share capital.

Likely market impact

This is a materially negative event for shareholders — the promoter has effectively lost ownership of nearly 85% of their stake due to a loan default, sharply weakening promoter control and raising the risk of further share sale or takeover. The stock is likely to face strong selling pressure and negative sentiment in the near term.