Asian Paints promoter Smiti Holding and Trading Company Private Limited created a pledge on 10,42,000 equity shares of the paint manufacturer on August 26, 2026. The encumbrance was established in favor of Jio Credit Limited to secure a loan facility.

The filing, made pursuant to Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011, discloses that Smiti Holding holds a total of 5,14,42,638 shares, representing 5.36% of the company’s total share capital. Prior to this transaction, 3,42,17,000 shares were already encumbered.

Pledge Details

The new pledge adds to the existing encumbrances held by the promoter entity. Following the creation of the pledge on August 26, 2026, the total number of encumbered shares held by Smiti Holding stands at 3,52,59,000. This figure represents 3.68% of Asian Paints’ total share capital.

Promoter Group Holdings

The disclosure also outlines the holdings of other promoters and the promoter group as of August 21, 2026. Dipika Amar Vakil remains the largest individual promoter shareholder outside the holding company, with 1,27,61,340 shares (1.33%). Late Abhay Arvind Vakil holds 1,24,18,060 shares (1.29%).

Other significant promoter group members include Vivek Abhay Vakil (68,12,369 shares), Bhairavi Abhay Vakil (60,64,322 shares), and Nehal Abhay Vakil (57,38,489 shares). Several other family members and Hindu Undivided Families (HUFs) hold stakes ranging from 0.01% to 0.40%.

Two other promoter entities, Satyen Ashwin Gandhi and Hiren Ashwin Gandhi, also have existing encumbrances. Satyen Ashwin Gandhi has 16,41,500 shares pledged (0.17%), while Hiren Ashwin Gandhi has 12,94,227 shares pledged (0.13%). No new pledges or releases were reported for these entities in the current filing.

Asian Paints Limited’s Audit Committee determined on August 21, 2026, that the partial non-implementation of a trading plan by promoter group entity Geetanjali Trading and Investments Private Limited (GTIPL) was bona fide. The decision follows GTIPL’s failure to execute the first tranche of share purchases due to market prices exceeding the plan’s upper limit.

This determination relates to a trading plan approved on March 19, 2026, under which GTIPL proposed to purchase 400,000 equity shares in two tranches. While the second tranche of 200,000 shares was successfully executed on August 18, 2026, the first tranche scheduled for late July could not be completed.

Trading Plan Execution Details

The original trading plan outlined two distinct periods for share acquisition:

• First Tranche: July 27, 2026, to July 31, 2026 (200,000 shares)
• Second Tranche: August 17, 2026, to August 21, 2026 (200,000 shares)

The Audit Committee noted that the market price of Asian Paints equity shares remained above the specified upper price limit of ₹2,650 per share throughout the first tranche’s trading window. Consequently, this specific purchase transaction was not executed. However, the pledge transaction and the second tranche purchase were implemented as planned.

Regulatory Compliance

The matter was placed before the Audit Committee at its meeting held on August 21, 2026, in accordance with Regulation 5(4) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company’s Code of Conduct. GTIPL had intimated the Compliance Officer regarding the partial non-implementation via a letter dated August 20, 2026, providing supporting documents and reasons for the deviation.

Following the review of these submissions and the Compliance Officer’s recommendation, the Audit Committee cleared the action. The disclosure was signed by R J Jeyamurugan, CFO, Company Secretary, and Compliance Officer of Asian Paints Limited.

Impact on Promoter Holding

The successful execution of the second tranche resulted in GTIPL increasing its stake in the paint manufacturer. Prior to the August 18 acquisition, GTIPL held 45,706,140 shares, representing 4.765% of the total voting capital. Following the purchase of 200,000 shares, the holding rose to 45,906,140 shares, or 4.786% of the company’s equity. No encumbrances were reported on the acquired shares.