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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Wardwizard Solutions India Pvt Ltd, along with PAC Mr. Yatin Sanjay Gupte, has acquired 6,49,18,403 equity shares of Mangalam Industrial Finance Ltd through a Rights Issue allotted on 1st December 2025. Before this acquisition, the promoter group's combined holding stood at 13.50% (7.59% Wardwizard + 5.91% PAC). After the acquisition, their combined holding marginally increased to 13.66% (7.68% Wardwizard + 5.98% PAC). The total share capital of the company expanded from 96.16 crore shares to 142.51 crore shares as part of the rights issue, which is why the percentage gain is small despite a large number of shares acquired. No encumbrance or pledge is involved; this is a straightforward subscription to maintain the promoter's proportional stake.
This is a routine rights issue subscription by the promoter group to maintain their stake rather than a significant fresh buying. The minimal percentage change suggests the promoters participated proportionally. Promoter holding remains well below 50% at 13.66%, leaving the company with non-majority promoter control and no material change in voting power.