Wardwizard Solutions Sells 39.62 Lakh Shares in Mangalam Industrial Finance

Wardwizard Solutions India Private Limited has disclosed the sale of 39,61,817 equity shares in Mangalam Industrial Finance Limited on February 27, 2026. The transaction was conducted through open market sale and disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Transaction Details The share sale represents a significant divestment by Wardwizard Solutions from its holding in Mangalam Industrial Finance Limited. The disclosure was filed on March 3, 2026, and signed by Director Yatin Sanjay Gupte (DIN: 07261150). Parameter Details Shares Sold 39,61,817 Transaction Date February 27, 2026 Mode of Sale Open Market Percentage of Total Capital 0.28% Shareholding Changes The transaction resulted in a reduction of Wardwizard Solutions' stake in Mangalam Industrial Finance Limited. The company's shareholding pattern shows the impact of this divestment on both individual and combined holdings. Holding Period Wardwizard Solutions PAC: Yatin Gupte Combined Total Before Sale 109,482,313 (7.68%) 85,272,898 (5.98%) 194,755,211 (13.66%) After Sale 105,520,496 (7.40%) 85,272,898 (5.98%) 190,793,394 (13.38%) Company Information Mangalam Industrial Finance Limited is listed on BSE Limited with scrip code 537800. The company's equity share capital remains unchanged at Rs. 96,16,43,500 divided into 96,16,43,500 equity shares of Re. 1 each. Regulatory Compliance The disclosure fulfills the requirements under SEBI regulations for substantial acquisition and takeover norms. Wardwizard Solutions, along with Person Acting in Concert Mr. Yatin Sanjay Gupte, belongs to the promoter group of the target company. The transaction maintains compliance with regulatory disclosure requirements for shareholding changes exceeding specified thresholds. Mangalam Industrial Finance Limited has announced a postal ballot notice dated February 13, 2026, seeking shareholder approval for revising material related party transaction limits with three Wardwizard group entities. The company proposes to increase the aggregate transaction limits from ₹15 crore to ₹30 crore each for Financial Year 2025-26. Postal Ballot Schedule and Process The company has established a comprehensive timeline for the postal ballot process, with all voting conducted exclusively through electronic means. The cut-off date for determining eligible shareholders was set as Friday, February 13, 2026. Event: Date/Time Cut-off Date: Friday, February 13, 2026 Notice Dispatch Completion: Wednesday, February 18, 2026 E-Voting Commencement: Friday, February 20, 2026 at 9:00 AM (IST) E-Voting Conclusion: Saturday, March 21, 2026 at 5:00 PM (IST) Scrutinizer's Report: On or Before Tuesday, March 24, 2026 Results Declaration: On or Before Tuesday, March 24, 2026 The company has engaged National Securities Depository Limited (NSDL) to provide the remote e-voting facility. Mr. Kamal A Lalani, Practicing Company Secretary (Membership No. ACS 37774 and COP No. 25395), has been appointed as the Scrutinizer for the postal ballot process. Proposed Related Party Transactions The postal ballot seeks approval for three separate resolutions to increase material related party transaction limits with Wardwizard group entities: Item 1: Wardwizard Solutions India Private Limited The company proposes to increase the transaction limit from ₹15 crore to ₹30 crore for various transactions including loans and advances, availing of services, and rent. The proposed transactions for FY 2025-26 include: Transaction Type: Amount (₹ Lakhs) Loan Given: 500 Interest Income: 250 Rent Expense: 10 Processing Fees & Documentation Charges: 40 Business Referral Commission: 700 Item 2: Wardwizard Medicare Private Limited For Wardwizard Medicare Private Limited, the enhanced limit encompasses loans and advances, with proposed transactions including: Transaction Type: Amount (₹ Lakhs) Loan Given: 1,200 Interest Income: 250 Processing Fees & Documentation Charges: 50 Item 3: Wardwizard Foods & Beverages Limited The third resolution covers transactions with Wardwizard Foods & Beverages Limited, including loans, advances, and rent: Transaction Type: Amount (₹ Lakhs) Loan Given: 1,200 Interest Income: 250 Rent Expense: 10 Processing Fees & Documentation Charges: 40 Regulatory Compliance and Governance The proposed transactions comply with Section 188 of the Companies Act, 2013, and Regulation 23 of the SEBI Listing Regulations. The Audit Committee reviewed and approved these transactions on February 13, 2026, based on certificates from the Managing Director and Chief Financial Officer confirming the transactions are in the company's interest. All proposed transactions will be conducted in the ordinary course of business and on an arm's length basis. The company has provided comprehensive disclosures in accordance with Industry Standards on Related Party Transactions, as mandated by SEBI circulars. Financial Context and Rationale The proposed transaction values represent 842.79% of the company's annual consolidated turnover for the immediately preceding financial year. As an NBFC, Mangalam Industrial Finance works closely with related parties, including promoters and associates, to achieve business objectives and support expanding operations. The enhanced limits will enable the company to provide financial assistance through internal accruals, own funds, or funds raised through equity shares and debt instruments. Interest rates will be charged at 12% on an unsecured, repayable-on-demand basis. Shareholder Participation Eligible shareholders as of the cut-off date can participate in the e-voting process using their demat account credentials or EVEN number for physical shareholdings. The postal ballot notice has been dispatched electronically to registered email addresses with depositories and the company's Registrar and Transfer Agent, Purva Share Registry (India) Private Limited. Related parties, including promoters and Wardwizard entities, are restricted from voting on these resolutions as per SEBI Listing Regulations. The Board recommends all three resolutions for shareholder approval. *Source: * We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.