Anand Rathi Financial Services Limited has re-submitted its share pledge disclosure for Anand Rathi Wealth Limited. An inadvertent operational error at the broker’s end led to incorrect reporting of pledged shares. The company clarifies that 5,60,000 shares were newly pledged with Yes Bank, and no shares were released from SRSPL. The total closing pledged balance has been corrected to 44,23,000 shares.
Disclosure Correction for Share Encumbrance
Anand Rathi Financial Services Limited has issued a revised disclosure concerning the encumbrance of equity shares in Anand Rathi Wealth Limited. This re-submission addresses an inadvertent operational error identified at the broker’s end, which led to an inaccurate report in the disclosure dated 21st May 2026.
Details of the Error and Correction
In the previous disclosure, it was reported that 5,60,000 pledged shares were released from SRSPL and simultaneously, 5,60,000 shares were newly pledged with Yes Bank. This resulted in the closing pledged share balance being reported as unchanged at 38,63,000 shares.
However, subsequent identification revealed that the intended release of pledged equity shares did not occur. Instead, certain Government Securities (G-Secs) were released, while the pledge creation in favour of Yes Bank was validly executed. Therefore, the actual situation is that no release of 5,60,000 pledged shares from SRSPL took place, and only the creation of a pledge of 5,60,000 shares in favour of Yes Bank was completed.
Corrected Pledged Share Position
The corrected pledged share position is as follows:
- Already encumbered shares as on 20th May 2026: 38,63,000
- Addition – Pledge created with Yes Bank: 5,60,000
- Net closing pledged balance (Correct): 44,23,000
The company emphasizes that the earlier misstatement was based on erroneous confirmation from the broker and was purely inadvertent and operational. This correction pertains solely to the reporting of encumbrance balances.
Annexure I – Shareholding Details
The disclosure also includes detailed annexures providing a breakdown of promoter and promoter group shareholding and encumbrance details. For Anand Rathi Financial Services Limited (ARFSL), the total promoter shareholding in Anand Rathi Wealth Limited is 1,65,34,758 shares, representing 19.92% of the total share capital. As of the reporting date, 38,63,000 shares (4.65% of total share capital) were already encumbered. The new pledge with Yes Bank adds 5,60,000 shares (0.67% of total share capital), bringing the total encumbered shares to 44,23,000 (5.33% of total share capital).
Annexure II – Reasons for Encumbrance
The reasons for the encumbrance are detailed, noting that the pledge of 5,60,000 shares with Yes Bank Limited is for availing margin limits. The value of shares on the date of the event was Rs. 199,73,52,000/-, with the amount involved being Rs. 178,18,37,719/-, resulting in a ratio of 1.12.
The end use of the borrowed money is stated as ‘Any other reason,’ with Anand Rathi Financial Services Limited pledging the shares for availing Margin Limits.
Source: BSE
