Diwakar Finvest Private Limited has filed a mandatory disclosure regarding the pledging of shares in Emami Limited under SEBI Takeover Regulations. The disclosure details multiple instances of share pledges created throughout March 2026, primarily by Diwakar Finvest Private Limited and Suraj Finvest Pvt Ltd. These pledges, executed as ‘Pledge of Shares’ against various lenders including IDBI Trusteeship Services Ltd and Bajaj Finance Limited, reflect an increase in the cumulative encumbered holding to 2.92% of the total share capital by March 24, 2026.
Mandatory Promoter Disclosure Filed
Diwakar Finvest Private Limited has submitted a disclosure pursuant to Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This document outlines the creation of encumbrances (pledges) on shares held by the promoter entities in the target company, Emami Limited. The reporting date for this submission is March 24, 2026.
Key Encumbrance Activities in March 2026
The report details several share pledging events occurring between March 16, 2026, and March 24, 2026. The pledges were made by two primary entities within the promoter group:
- Diwakar Finvest Private Limited: This entity increased its pledged shares substantially, reaching 2,74,73,014 shares (6.29% of capital) after an initial creation event on March 19, 2026. Lenders included IDBI Trusteeship Services Ltd, IL & FS Infrastructure Debt Fund, and Bajaj Finance Limited.
- Suraj Finvest Pvt Ltd: This entity also engaged in several pledge creations starting on March 16, 2026, increasing its encumbered shares to a total of 80,96,992 shares (1.85% of capital) by March 19, 2026.
Cumulative Post-Event Holding
The final summary of the disclosure, as of the reporting date, shows a significant cumulative encumbrance:
- The largest single recorded post-event holding listed is for Suraj Finvest Pvt Ltd after the pledge on March 24, 2026, where the encumbered shares reached 1,27,56,992 shares, representing 2.92% of the total share capital.
- The total share capital of Emami Limited used as the base for these calculations implies a total promoter holding base of 9,87,94,786 shares (22.63%) for Diwakar Finvest and 10,56,30,326 shares (24.20%) for Suraj Finvest Pvt Ltd.
Annexure A: Full Promoter Stake Snapshot
Annexure ‘A’ provides a comprehensive breakdown of the non-encumbered holdings of various individuals and entities within the promoter/PAC group of Emami Limited. For instance, Priti A Sureka holds 1,51,04,702 shares (3.4604%), and Mohan Goenka holds 6,68,873 shares (0.1532%). Notably, Pan Emami Cosmed Limited holds 31,17,160 shares (0.7141%), with none of these holdings reflecting any pledge activity in this specific disclosure.
Source: BSE
