AFLOAT Enterprises revises disclosure for release of encumbrance

AFLOAT Enterprises Ltd has filed a revised disclosure with BSE regarding the release of encumbrance on 14,12,525 equity shares of Adishakti Loha and Ispat Limited . The filing, submitted under Regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, rectifies discrepancies found in the initial submission dated June 13, 2026. The shares, representing 11.25% of the total share capital, were previously pledged with MSB e-trade Securities Limited to meet margin requirements for trading in securities.

The exchange identified specific errors in the earlier filing, including a mismatch in the post-event holding of encumbered shares, the absence of the reason for the encumbrance, and the failure to specify the type of encumbrance. The revised disclosure ensures compliance with the requirement that all promoters' shareholding details, including pledged shares as on the reporting date, are accurately reflected in the table, regardless of whether they are reporting on the event date.

Details of the Encumbrance Release

The disclosure confirms that promoter Pawan Kumar Mittal released the pledge on the entire holding of 14,12,525 shares on June 12, 2026. The encumbrance was initially created on March 16, 2026. The table below details the shareholding and encumbrance status of the promoter group as per the revised filing.

Promoter Name	Promoter Holding (Shares)	% of Total Share Capital	Encumbered Shares (Pre-event)	Encumbered Shares (Post-event)
Pawan Kumar Mittal	1412525	11.25%	1412525	Nil
Kiran Mittal	866303	6.90%	Nil	Nil
Rukmani Devi Mittal	420283	3.35%	Nil	Nil
Pawan Kumar Mittal HUF	9583	0.08%	Nil	Nil
Ispatika International Limited	2000000	15.93%	Nil	Nil

Financial and Regulatory Context

The value of the shares on the date of the initial encumbrance agreement was determined using the volume weighted average price of ₹13.50 as on June 25, 2021. The aggregate amount proposed against the encumbered shares was ₹19069087. The funds were utilized by the promoter specifically to meet margin requirements for trading in securities. MSB e-trade Securities Limited, the entity in whose favor the shares were encumbered, operates as a stockbroker and trading platform.

The revised filing was submitted to BSE on July 13, 2026, and replaces the previous disclosure submitted on June 13, 2026. The document was signed by Pawan Kumar Mittal in his capacity as Promoter.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.82%	+4.62%	-0.44%	+3.26%	-2.79%	+19.30%

Pine View Portfolio Consultants Private Limited has sold 310,000 shares in adishakti loha & ispat via open market transactions, reducing its holding in the company. The sales, conducted on June 24 and July 3, 2026, were disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transactions involved the sale of 90,000 shares on June 24 and 220,000 shares on July 3.

Following the disposal, Pine View Portfolio Consultants Private Limited's shareholding in Adishakti Loha and Ispat Limited decreased to 8.36%. Prior to the sale, the entity held 13,60,000 shares, representing a 10.83% stake in the company. The target company's equity share capital remains unchanged at 1,25,58,000 equity shares of ₹10 each.

Shareholding Details

The disclosure outlines the shift in shareholding structure resulting from the open market sales. The acquirer confirmed that it does not belong to the promoter or promoter group of the target company.

Description	Number of Shares	% of Total Share Capital
Holding before sale	13,60,000	10.83%
Shares sold	3,10,000	2.46%
Holding after sale	10,50,000	8.36%

Transaction Particulars

The sales were executed entirely through the open market mechanism. The disclosure, submitted by Director Bhaskar, was filed with BSE Limited on July 6, 2026. The total voting capital of Adishakti Loha and Ispat Limited stands at 1,25,58,000 equity shares.