Resilient Asset Management B.V. has reduced its stake in One 97 Communications by selling 19,210,110 equity shares in the open market on August 18, 2026. The disposal, which represents a 3.00% drop in voting rights, brings the entity’s direct holding down from 10.2% to 7.2%.

The transaction was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on August 19, 2026. The filing indicates that the sale resulted in a change in shareholding of more than 2% of the total equity share capital.

Shareholding Structure Post-Transaction

Following the disposal, Resilient Asset Management B.V.’s holding stands at 46,124,991 shares. Vijay Shekhar Sharma and his immediate relative, Mridula Sharma, maintained their existing stakes during this period. Mr. Sharma holds 57,845,053 shares (9.02%), while Mrs. Sharma holds 700,000 shares (0.11%).

The combined holding of the Persons Acting in Concert (PAC) group decreased from 19.33% to 16.33% of the total voting capital. In terms of diluted share/voting capital, the group’s interest fell from 18.98% to 15.98%.

Key Details of the Disclosure

• Mode of Sale: Open market
• Date of Transaction: August 18, 2026
• Regulatory Reference: Regulation 29(2), SEBI (SAST) Regulations, 2011
• Total Equity Share Capital: 64,11,33,110 shares (Face value ₹1)
• Total Diluted Share Capital: 65,28,21,825 shares

The disclosure notes that Mr. Vijay Shekhar Sharma is a director of Resilient Asset Management B.V. Mrs. Mridula Sharma was included in the PAC group out of abundant caution due to her relationship with Mr. Sharma and her 0.11% shareholding.

One 97 Communications disclosed that Resilient Asset Management B.V. intends to execute a block market trade to sell up to 4.98% of its shareholding in the company. The move follows an existing Optionally Convertible Debenture (OCD) arrangement with Antfin (Netherlands) Holding B.V., which retains the economic value from the sale.

Resilient originally acquired approximately 10.20% equity stake in One 97 Communications from Antfin against OCDs issued to Antfin, as disclosed on August 7, 2023. The current proposal involves selling a portion of this holding through a block trade mechanism rather than open market transactions.

Transaction structure

The block trade operates within the framework of the OCD agreement between Resilient and Antfin. Key structural elements include:

• Resilient acts as the legal seller of the shares
• Antfin retains all economic value generated from the transaction
• One 97 Communications is not a party to the transaction
• No change occurs in the founder's direct shareholding

This structure allows Antfin to realize economic benefits from the share sale while maintaining its underlying economic interest through the OCD mechanism. The transaction was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

What the numbers show

The following table summarises the key parameters of the proposed block trade:

Resilient holds approximately 10.20% stake acquired from Antfin, with the current proposal targeting up to 4.98% for sale via block trade. This represents roughly half of Resilient's total holding being offered through this single transaction. The remaining stake continues to be governed by the same OCD arrangement, with Antfin retaining economic interest.

The disclosure indicates that One 97 Communications serves only as the listed entity facilitating transparency requirements. The actual economic relationship remains between Resilient and Antfin, with the company explicitly stating it is not a party to the transaction and that founder shareholding remains unchanged.