The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Yatin Sanjay Gupte
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Yatin Sanjay Gupte, a promoter of Wardwizard Innovations & Mobility Ltd, has created a pledge over 50,00,000 (50 lakh) equity shares held by him in the company in favour of Mr. Yoginkumar Patel as a lender. The pledge has been created as collateral or security for a financial assistance (loan) availed by the promoter for operational and strategic business needs. Before the transaction, the promoter held 7,31,43,177 shares (28.06%) in voting rights capacity, and this pledge represents about 6.8% of his individual holding or 1.92% of total equity. The Annexure notes also mention two additional margin-call pledges — 350,000 shares to Luharuka Media & Infra Limited and 300,000 shares to Radhamani India Limited. Total promoter group (with PAC Wardwizard Solutions India Pvt Ltd) holding remains at 29.30% post-pledge.
This is a creation of an encumbrance, not a change in ownership — voting rights stay with the promoter. However, pledging shares raises a debt-burden flag for retail investors; if the promoter defaults, shares could be invoked and sold in the market, potentially pressuring the stock. The margin call pledges noted in the Annexure suggest the promoter may be facing some liquidity stress.