Anand Rathi Financial Services pledges 24 lakh shares of subsidiary for margin limits

Anand Rathi Financial Services Limited has disclosed the creation of a pledge on equity shares of its subsidiary company under SEBI regulatory requirements. The company submitted the mandatory disclosure to both NSE and BSE on March 31, 2026, regarding the pledge transaction executed on March 30, 2026.

Pledge Transaction Details

The disclosure pertains to the pledging of shares in Anand Rathi Share And Stock Brokers Limited (ISIN: INE549H01021), which is listed on both the National Stock Exchange of India Limited and BSE Limited.

Parameter: Details Pledging Entity: Anand Rathi Financial Services Limited Target Company: Anand Rathi Share And Stock Brokers Limited Shares Pledged: 24,00,000 equity shares Percentage: 3.83% of total share capital Pledge Date: March 30, 2026 Beneficiary: Suresh Rathi Securities Private Limited

Shareholding Structure

Anand Rathi Financial Services Limited holds a significant stake in the target company, with its total holding standing at 4,38,45,400 shares, representing 69.90% of the total share capital. The pledged shares constitute a small portion of this overall holding.

Holding Details: Shares Percentage Total Holding: 4,38,45,400 69.90% Pledged Shares: 24,00,000 3.83% Remaining Unpledged: 4,14,45,400 66.07%

Purpose and Regulatory Compliance

The shares were pledged specifically for availing margin limits, as stated in the disclosure document. This transaction falls under the purview of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, requiring mandatory disclosure under Regulation 31(1) and 31(2).

The disclosure was signed by Divyani Shah, Company Secretary (Membership No. A49954), on behalf of Anand Rathi Financial Services Limited. The document confirms that no other promoter entities were involved in this particular pledge transaction, with all other listed promoter entities showing zero encumbrance in their respective holdings.

Anand Rathi Share and Stock Brokers Limited has completed the allotment of secured non-convertible debentures worth Rs. 10 crore through private placement. The company informed BSE and NSE about this development on March 31, 2026, pursuant to Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Latest Debenture Allotment Details

The company allotted 1,000 secured, unlisted and redeemable non-convertible debentures to identified investors on March 31, 2026. Each debenture carries a face value of Rs. 1,00,000, bringing the total issue size to Rs. 10 crore under Series ARSSBLNA4/2025.

Parameter: Details Securities Allotted: 1,000 NCDs Face Value: Rs. 1,00,000 each Total Issue Size: Rs. 10 crore Allotment Date: March 31, 2026 Series: ARSSBLNA4/2025

Updated Terms and Conditions

The latest NCDs carry enhanced terms for investors with a shorter tenure compared to previous issuances. The instruments are structured as secured debentures with quarterly payment schedules and improved coupon rates.

Feature: Specification Tenure: 374 days (1 Year and 9 Days) Maturity Date: April 9, 2027 Coupon Rate: 9.50% per annum Payment Schedule: Quarterly Listing Status: Unlisted

Security Structure

The debentures maintain the same security structure as previous issuances, secured by a first ranking charge by way of hypothecation over all present and future book debts and receivables of the company. This security is governed by the deed of hypothecation dated August 14, 2023, supplemented by the Supplemental Deed of Hypothecation dated October 20, 2023.

Default Provisions

Consistent with previous terms, the debenture agreement includes provisions for handling payment defaults. In case of default in payment of interest or principal amount, the company will pay additional interest at 2% per annum over the stated interest rate from the date of default until payment is made.

Previous NCD Issuance Comparison

This represents the company's continued debt fundraising activities. Earlier, the company had allotted 495 NCDs worth Rs. 4.95 crore under Series ARSSBLNA3/2025 on March 30, 2026, with a 3-year tenure and 9% coupon rate.

Comparison: Series ARSSBLNA3/2025 Series ARSSBLNA4/2025 Issue Size: Rs. 4.95 crore Rs. 10 crore Number of NCDs: 495 1,000 Coupon Rate: 9.00% 9.50% Tenure: 3 Years 374 Days Allotment Date: March 30, 2026 March 31, 2026

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