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
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On 13th March 2026, DY Captive Projects LLP invoked the pledge on 9 crore equity shares (6.32% of total share capital) of Mangalam Industrial Finance Ltd held by its promoter Wardwizard Solutions India Pvt Ltd, due to default on a Loan Against Securities facility. After this invocation, Wardwizard Solutions' effective holding in Mangalam Industrial Finance fell from 13.38% (including encumbered shares) to 7.06%, with the encumbered portion now reduced to zero. The pledge invocation was carried out per the terms of the Deed of Share Pledge cum Loan Agreement between the parties. The company's total equity share capital is Rs. 1,42,51,29,928 divided into 1,42,51,29,928 shares of Re. 1 each.
This is a negative signal for shareholders — pledge invocation typically reflects financial distress at the promoter level and raises concerns about promoter stability. The promoter's economic interest in the company has nearly halved (from 13.38% to 7.06%), which could weigh on investor sentiment and the stock price in the short term.