Anand Rathi Share and Stock Brokers Limited received the forensic audit report from Ernst & Young LLP (EY) on May 26, 2026. The report, commissioned under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has been forwarded to the members of the Audit Committee and the Board of Directors for their review.

The Board will discuss the findings and recommendations contained in the report during its ensuing meetings to record any necessary comments. This development follows the company's earlier intimation on March 06, 2026, regarding the initiation of the forensic audit and the appointment of EY as the forensic auditor.

The submission was made in compliance with Regulations 30 and 51 of the SEBI Listing Regulations, read with the SEBI Master Circular dated January 30, 2026. The company has uploaded the report on its website for stakeholder access.

Anand Rathi Financial Services Limited, acting in its capacity as a promoter of Anand Rathi Share And Stock Brokers Limited, submitted a regulatory disclosure to the National Stock Exchange of India Limited and BSE Limited on May 11, 2026. The filing was made under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and covers encumbrance activity on equity shares of the target company carried out on May 8, 2026 and May 9, 2026. An additional Annexure II disclosure was also filed, providing further details on the reasons for encumbrance and security cover.

Pledge Release and Re-Creation on Equity Shares

The disclosure details a two-step transaction involving 24,00,000 equity shares of Anand Rathi Share And Stock Brokers Limited, representing 3.83% of the company's total share capital. In the first step, the pledge previously held by Orbis Financial Corporation Limited was released on May 8, 2026. In the second step, a fresh pledge was created in favour of Yes Bank Limited on May 9, 2026, covering the same 24,00,000 shares. Both transactions were executed for the purpose of availing margin limits, reflecting a shift in the custodian participant from Orbis Financial Corporation Limited to Yes Bank Limited.

The key details of the encumbrance events are summarised below:

Promoter Shareholding and Encumbrance Details

As per the disclosure, Anand Rathi Financial Services Limited holds 4,38,45,400 equity shares in Anand Rathi Share And Stock Brokers Limited, representing 69.90% of the target company's total share capital. The encumbered shares represent 5.47% of the promoter's total shareholding. The encumbered holding does not exceed 50% of the promoter's shareholding, nor does it constitute 20% or more of the total share capital of the listed company.

The Annexure II disclosure provides the following security cover details for the re-pledged shares:

Regulatory Compliance and Disclosure

The disclosure was signed by Divyani Shah, Company Secretary (Membership No. A49954), on behalf of Anand Rathi Financial Services Limited, and was filed from Mumbai on May 11, 2026. The filing is in compliance with the prescribed format under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. No other promoters or persons acting in concert (PACs) listed in the disclosure reported any encumbrance activity during the period.