The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on February 27, 2026 for Bharti Hitesh Lakhani

Promoter holding below 50%Ownership Changes View source PDF Explain this filing

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

-3.3%Reaction day

₹43.43

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Nifty Microcap 250market · in no size index; the smallest one is used-2.2%-1.1% vs market

Stockbroking & Allied peers, median of 37sector-2.7%-0.6% vs sector

On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250 and 0.6 pts less than its Stockbroking & Allied 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

Bharti Hitesh Lakhani, a promoter of Rikhav Securities Ltd, has disclosed the creation of a pledge on 7,67,920 equity shares (2.01% of total share capital) in favour of NU Investors Technologies Pvt Ltd, dated 23 February 2026. Prior to this event, she held 15,83,760 shares (4.14% of share capital) with no shares previously encumbered. After the pledge, her encumbered holding stands at 7,67,920 shares (2.01%), meaning nearly half of her personal promoter stake is now pledged. The disclosure was filed with BSE under Regulation 31(1) of the SEBI Takeover Code.

Likely market impact

This is a routine encumbrance disclosure showing that about 48% of the promoter's individual stake has been pledged as collateral. While not immediately alarming, a high pledging ratio raises the risk of forced sale if the promoter fails to meet loan obligations. Shareholders should monitor whether pledging levels rise further or if any invocation/release events follow.