Smiti Holding and Trading Company Private Limited acquired 1,64,000 equity shares of Asian Paints Limited from Jalaj Ashwin Dani HUF through an inter-se transfer. The transaction took place on September 17, 2026, via the block deal window mechanism.

The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Both the seller and acquirer belong to the promoter group of the target company.

Shareholding Movement

Prior to the transaction, Smiti Holding held 5,14,42,638 shares, representing 5.363% of the total voting capital. Following the acquisition, its holding increased to 5,16,06,638 shares, or 5.380% of the equity share capital.

The total equity share capital of Asian Paints remained unchanged at 9,59,19,790 shares. The aggregate shareholding of the promoter and promoter group also remained constant before and after the deal.

What the Numbers Show

The acquisition reflects a consolidation of holdings within the promoter circle rather than a change in overall control structure. Since both parties are part of the same promoter group, the net promoter stake in Asian Paints did not alter, indicating internal portfolio rebalancing without external dilution or accretion to the public float.

Promoter Smiti Holding and Trading Company Private Limited created a pledge on 26.79 lakh equity shares of Asian Paints Limited for loans between September 16 and 17, 2026.

The disclosure was filed with the Bombay Stock Exchange and National Stock Exchange on September 18, 2026, pursuant to Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Pledge Details

Smiti Holding pledged shares to four distinct entities during the two-day period. The largest single pledge was made to Tata Capital Limited.

The total new encumbrance stands at 26.79 lakh shares, representing 0.28% of the total share capital.

Post-Event Holding

Prior to these transactions, Smiti Holding held 5,16,06,638 shares, constituting 5.38% of the total share capital. Of this holding, 3,59,91,000 shares (3.75%) were already encumbered.

Following the new pledges, the total number of encumbered shares held by Smiti Holding rose to 3,86,70,000. This represents 4.03% of the total share capital.

Other promoters in the group, including Dipika Amar Vakil and Satyen Ashwin Gandhi, reported no changes in their pledged positions as of September 18, 2026.