The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on May 27, 2025 for Yatin Sanjay Gupte
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Awaiting price reaction for this filing.
Promoter Yatin Sanjay Gupte has created a fresh pledge over 50,00,000 (50 lakh) equity shares of Wardwizard Innovations & Mobility in favour of Mr. Yoginkumar Patel as collateral for financial assistance availed by the promoter. Before this, Yatin already had 4,11,86,344 shares (15.80% of total share capital) pledged; after the new pledge, his total encumbered holding rises to 4,61,86,344 shares. This means roughly 63% of his personal shareholding in the company is now pledged. The promoter has stated the funds will be used for operational and strategic business requirements. The pledge deed was executed on 19th May 2025 and disclosed to the exchanges on 27th May 2025.
This is a pledge creation and not a sale, so promoter ownership in the company does not change. However, with over 60% of the promoter's personal holding now pledged, any sharp drop in the stock price could raise the risk of a pledge invocation, which is a negative overhang for shareholders.