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 Himatlal J. Lakhani HUF
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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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Himatlal J. Lakhani HUF, part of the Promoter Group of Rikhav Securities Ltd, has pledged its entire holding of 12,75,000 equity shares (3.33% of total share capital) with Investors Technologies Pvt Ltd on February 23, 2026. Prior to this event, the entity held nil encumbered shares, meaning 100% of its promoter stake is now pledged. The disclosure was filed under Regulation 31(1) of the SEBI Takeover Code to BSE on February 27, 2026. This is a fresh creation of encumbrance, not a release or invocation.
With the promoter's entire holding now pledged, any default could trigger invocation and a forced sale of these shares, potentially weakening promoter control and signalling the need for liquidity by the promoter group. Retail investors should monitor for any further pledge creation or invocation disclosures.