Smiti Holding and Trading Company Private Limited filed mandatory disclosures regarding changes in its shareholding structure concerning Asian Paints Limited. The filing covers the creation of a pledge on a portion of its equity shares as collateral for a loan. Specifically, 6,06,000 shares were pledged across two separate transactions on March 17, 2026, impacting the promoter group’s total encumbered holding.
Mandatory Disclosure on Share Pledging
Smiti Holding and Trading Company Private Limited has submitted required declarations to the stock exchanges concerning its holding in the Target Company, Asian Paints Limited (ISIN: INE021A01026). This disclosure, made under regulations pertaining to Substantial Acquisition of Shares and Takeovers, details the creation of an encumbrance on the promoter’s equity stake.
Details of Encumbrance Creation
The reporting entity, Smiti Holding, reported creating a pledge on its shares on March 17, 2026. The filing details two specific instances of pledging shares for loans:
- Transaction 1: A pledge of 2,65,000 shares (0.03% of capital) was created in favor of Tata Capital Limited through Security Trustee IDBI Trusteeship Services Limited.
- Transaction 2: A pledge of 3,41,000 shares (0.04% of capital) was created in favor of Citicorp Finance (India) Limited.
In aggregate, 6,06,000 shares were pledged on this date, increasing the total encumbered holding of Smiti Holding to 3,83,06,000 shares, representing 3.99% of the total share capital.
Overall Promoter Group Holding
The filing provides a comprehensive snapshot of the entire Promoter Group’s shareholding as of the reporting date. The total promoter and promoter group holding stands at 45,33,42,560 shares, accounting for 47.11% of the diluted share capital. The total encumbered portion across the entire group, inclusive of Smiti Holding’s new pledges, now totals 5,03,53,227 shares, equating to 5.25% of the total share capital.
The document confirms that the declaration was authorized by Vita Jalaj Dani, Director, and was executed on March 18, 2026.
Source: BSE
