Yatin Sanjay Gupte, a promoter of Wardwizard Innovations & Mobility Limited, has pledged an additional 10,00,000 equity shares to Blacksoil Capital Private Limited. This pledge was created to secure financial assistance under a credit facility agreement.

Key Details of the Pledge

Impact on Shareholding

The pledge has resulted in changes to the encumbered shareholding:

• Total encumbered shares held by the promoter and PAC increased to 4,29,46,729 shares
• This represents 14.28% of the company's total diluted share capital

Additional Context

The pledge was executed to secure financial assistance, as per the terms and conditions agreed between the parties pursuant to the Financing/Credit Facility Agreement. This arrangement ensures compliance with financial obligations and risk mitigation measures required under the agreement.

It's important to note that while there may be no change in the promoter's overall holding, there is an increase in the number of encumbered shares held by the promoter. This transaction falls within the definition of 'encumbrance' as per the relevant regulations.

Wardwizard Innovations & Mobility Limited , a company listed on the BSE (Scrip Code: 538970), has recently completed a rights issue that has resulted in a significant change in its shareholding structure. The company's promoters, including Yatin Sanjay Gupte, Wardwizard Solutions India Private Limited, and Garuda Mart India Private Limited, have reported a decrease in their equity shareholding percentages following the allotment of fully paid-up equity shares to public shareholders.

Impact on Share Capital

The rights issue has led to a substantial increase in the company's total equity share capital:

This expansion in the share capital represents an increase of approximately 15.33% in the total number of outstanding shares.

Regulatory Compliance

In compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the promoters have filed the necessary disclosures reporting the change in their shareholding. These disclosures were submitted to both the BSE Limited and the Board of Directors of Wardwizard Innovations & Mobility Limited.

Promoter Actions

Yatin Sanjay Gupte, a key promoter of the company, personally filed a declaration detailing the decrease in his equity shareholding percentage. Similarly, Wardwizard Solutions India Private Limited, another promoter entity, submitted its disclosure regarding the reduction in its shareholding stake.

Implications

The dilution of promoter shareholding as a result of the rights issue indicates an expansion of the company's public float. This could potentially lead to:

1. Increased liquidity in the stock
2. A more diverse shareholder base
3. Possible changes in the company's governance structure

It's important to note that while the promoters' percentage stake has decreased, this is a result of the expansion of the overall share capital rather than a sale of shares by the promoters.

Investors and market participants are advised to take note of this change in the company's capital structure and its potential implications for the stock's trading dynamics and future corporate actions.

The company's management has not provided any commentary on the strategic implications of this change in shareholding structure. Stakeholders may want to watch for any future announcements or disclosures that might shed light on the company's plans following this capital expansion.