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
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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.
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.