Arman Financial Services promoter Himani Manakiwala sold 500 equity shares in the open market on August 28, 2026. The disposal reduced her total holding in the company.

The transaction was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Manakiwala’s stake decreased from 4,893 shares (0.05% of total voting capital) to 4,334 shares (0.04%).

Shareholding Details

The company’s total equity share capital remains unchanged at ₹104,905,380, divided into 10,490,538 ordinary equity shares of ₹10 each.

What the Numbers Show

The sale represents a 10.2% reduction in Manakiwala’s personal holding. Despite the disposal, her stake remains minimal at 0.04% of the total voting capital, indicating limited influence on corporate control.

Arman Financial Services announced the demise of its founder and Whole-time Director, Jayendra B. Patel, on August 25, 2026. His cessation as a director is effective immediately.

The company disclosed the development to the BSE and NSE pursuant to Regulations 30 and 51 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Mr. Patel, who founded Arman in 1992, stepped down from the role of Vice Chairman & Managing Director to Whole-time Director in February 2026 as part of an orderly leadership transition.

Leadership Legacy

Mr. Patel guided Arman for more than three decades, transforming it from a modest beginning into a diversified financial services institution. He emphasized prudence, integrity, and disciplined credit practices. The company noted that his philosophy focused on sustainable growth and serving underserved customers across rural and semi-urban India.

In February 2026, Mr. Patel moved to the role of Whole-time Director while continuing to mentor the leadership team. He remained a strategic guide until his passing. Aalok Patel, Vice Chairman and Managing Director, released a note of remembrance highlighting his father's commitment to building an institution stronger than any individual.

What the Numbers Show

The source contains no financial data for analysis. This section is omitted as per guardrails.