Promoter Satyen A. Gandhi pledged 2,50,000 shares of Asian Paints Limited as collateral for a business loan on September 3, 2026.

The disclosure was filed with the Bombay Stock Exchange and National Stock Exchange on September 5, 2026, pursuant to Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Pledge Details

The shares were encumbered in favour of Julius Baer Capital (India) Pvt. Ltd. The creation of this pledge increases the total number of encumbered shares held by Mr. Gandhi.

Holding Structure

Prior to this transaction, Mr. Gandhi held 16,41,500 encumbered shares, representing 0.17% of the total share capital. Following the new pledge, his total encumbered holding stands at 18,91,500 shares, or 0.20% of the equity.

His total holding in the company remains at 37,25,954 shares, constituting 0.39% of the total share capital. The filing lists other promoters and persons acting in concert (PACs), including Dipika Amar Vakil and Vivek Abhay Vakil, none of whom reported new encumbrances in this disclosure.

Asian Paints promoter Smiti Holding and Trading Company Private Limited pledged 6.67 lakh equity shares to Barclays Investments and Loans (India) Private Limited on September 3, 2026.

The entity simultaneously released 8.52 lakh shares previously encumbered in favor of Citicorp Finance (India) Limited. The disclosure was filed with stock exchanges under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Share Encumbrance Details

Smiti Holding holds 5,14,42,638 shares in Asian Paints, representing 5.36% of the total share capital. Prior to the September 3 transactions, 3,52,59,000 shares (3.68%) were already encumbered.

Following these moves, the total number of encumbered shares held by Smiti Holding stands at 3,50,74,000, or 3.66% of the total share capital. This represents a net reduction of 1,85,000 shares (0.02%) in pledged holdings compared to the pre-event position.

What the Numbers Show

The simultaneous release and pledge indicate a refinancing or restructuring of collateral rather than a new liquidity requirement. By releasing shares against Citicorp and pledging fewer shares to Barclays, Smiti Holding reduced its overall encumbered stake by 0.02 percentage points. This suggests an optimization of leverage terms or a partial debt repayment facilitated by the release, while maintaining secured borrowing capacity through the new pledge to Barclays.

Promoter Group Holdings

Other promoters and the promoter group reported no changes in their pledged positions as of August 28, 2026. Key individual holdings include:

• Dipika Amar Vakil: 1,27,61,340 shares (1.33%)
• Late Abhay Arvind Vakil: 1,24,18,060 shares (1.29%)
• Vivek Abhay Vakil: 68,12,369 shares (0.71%)

Satyen Ashwin Gandhi and Hiren Ashwin Gandhi hold 16,41,500 (0.17%) and 12,94,227 (0.13%) encumbered shares respectively, with no recent changes disclosed.