Anand Rathi Financial Services Limited has re-submitted its disclosure concerning the encumbrance of shares of Anand Rathi Wealth Limited. The company identified an inadvertent reporting error in its prior disclosure dated May 21, 2026, which led to incorrect opening and closing balances. This re-submission provides corrected figures for opening balances, transaction details, and closing balances to ensure accurate reporting as per SEBI regulations.
Correction in Share Encumbrance Disclosure
Anand Rathi Financial Services Limited has issued a re-submission of its disclosure regarding the encumbrance of shares in Anand Rathi Wealth Limited. This action is taken in accordance with Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Reason for Re-submission
The company stated that an inadvertent reporting error occurred in its previous disclosure dated May 21, 2026. This error involved the release of pledged shares being reported based on an erroneous confirmation from the broker and the pledge master report of G-Sec. In reality, Government securities of the same quantity were released instead of the pledged shares.
This misreporting consequently led to an incorrect statement of the closing encumbered share balance in the aforementioned disclosure. Furthermore, the opening and closing balances disclosed in subsequent filings also became misaligned due to this error.
Revised Disclosures Provided
The revised disclosures now contain the corrected opening balances, transaction details, and closing balances for the relevant date. Anand Rathi Financial Services Limited has clarified that these corrections pertain solely to the reporting of encumbrance balances and were unintentional clerical or operational errors. The company requests that these revised disclosures be taken on record.
Key Details from the Disclosure
The re-submission covers events pertaining to encumbrance. For Anand Rathi Financial Services Limited, details include:
- Target Company: Anand Rathi Wealth Limited (ISIN – INE463V01026)
- Promoter Holding: 1,65,34,758 shares, representing 19.92% of total share capital.
- Encumbrance Event (May 22, 2026): Release of 44,23,000 shares (5.33% of total share capital) and Creation of 40,98,000 shares (4.94% of total share capital).
- Reasons for Encumbrance: Shifting of collateral with another broker.
- Entity in whose favour shares encumbered: Suresh Rathi Securities Private Limited (40,98,000 shares) and Yes Bank Limited (44,23,000 shares).
The disclosure also lists numerous other PACs (Persons Acting in Concert) and their respective shareholdings and encumbrance details, reflecting various entities such as Pradeep Kumar Gupta, Priti Pradeep Gupta, and several corporate entities like Jaipur Securities Private Limited, Twelfth Tier Property Limited, and Anand Rathi IT Private Limited.
Annexure II – Reason for Encumbrance
Annexure II provides further details on the reasons for encumbrance. For the primary encumbrance event involving Anand Rathi Financial Services Limited:
- Type of Encumbrance: Pledge.
- Date of Release and Creation: 22.05.2026.
- Shares Pledged: 3,25,000 shares, representing 0.39% of total share capital, with Yes Bank Limited.
- Nature of Entity (X): Yes Bank Limited is a scheduled commercial bank.
- Other Entities in Agreement: Anand Rathi Wealth Limited, Anand Rathi Financial Services Limited.
- Relation to Debt Instruments: No.
- End Use of Money: To avail Margin Limits, with the collateral now being shifted to another broker.
Source: BSE
