Afloat Enterprises Ltd disclosed that Pine View Portfolio Consultants Private Limited sold 540,000 equity shares in the open market, reducing its total holding from 8.36% to 4.07%. The sales took place on July 27 and July 28, 2026, with 350,000 shares traded on the first day and 190,000 on the second. This significant reduction brings Pine View’s stake below the 5% threshold often monitored for substantial acquisition disclosures, though it remains a notable shareholder.

The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Pawan Kumar Mittal, Director of Afloat Enterprises Ltd, submitted the filing to BSE Limited on July 30, 2026. Bhaskar, Director of Pine View Portfolio Consultants Private Limited, provided the underlying transaction details, confirming the seller is not part of the promoter group.

Transaction Details

Pine View Portfolio Consultants Private Limited held 10,50,000 shares carrying voting rights prior to these transactions. The company did not hold any encumbered shares, warrants, or convertible securities at any stage of the reporting period. The total voting capital of Afloat Enterprises Ltd remained constant at 1,25,58,000 equity shares of ₹10 each throughout the period.

Regulatory Context

The sale was executed entirely through the open market mechanism. There were no off-market transfers, bulk deals, or block deals involved in this specific disclosure. The seller confirmed no pledges or liens existed on the disposed shares. Following the sale, Pine View Portfolio Consultants Private Limited retains a holding of 5,10,000 shares, representing 4.07% of the total diluted share capital. No further encumbrances or convertible instruments are associated with this remaining stake.

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.

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.