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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Mangalam Industrial Finance Ltd has informed the stock exchange that its promoter, Wardwizard Solutions India Private Limited, has created a pledge on 9,00,00,000 (9 crore) equity shares in favour of DY Captive Projects LLP, effective 10th March 2026. These 9 crore shares represent 6.32% of the company's total equity share capital of 1,42,51,29,928 shares. Wardwizard Solutions India Pvt Ltd holds 10,55,20,496 shares (7.40%) on its own, meaning roughly 85% of its individual shareholding has now been pledged. Along with PAC Mr. Yatin Sanjay Gupte (5.98%), the total promoter group holding stands at 13.38%, of which 6.32% is now encumbered.
This is a negative signal for shareholders — a promoter pledging nearly all of its shares raises concerns about financial stress or leverage at the promoter level. Any invocation of the pledge could lead to a sharp drop in promoter stake or change in control. The total promoter holding remains low at 13.38%, meaning the stock is not strongly promoter-backed, which increases vulnerability if the pledge is triggered.