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Smiti Holding and Trading Company Private Limited pledged 41.66 lakh Asian Paints shares to Bajaj Finance on August 6, 2026, as loan collateral, according to ScanX. The “4.03 crore” figure associated with the report was the cumulative number of Smiti’s shares reported as encumbered after that transaction—not the number newly pledged to Bajaj Finance.
What happened in the August pledge?
ScanX reported that Smiti Holding pledged 41,66,000 Asian Paints shares to Bajaj Finance on August 6, 2026. The stated purpose was to provide shares as collateral for a loan. ScanX said the disclosure was submitted to BSE and NSE on August 7 under SEBI SAST Regulations 31(1) and 31(2). ScanX’s August report
The transaction figure and the cumulative figure answer different questions: 41.66 lakh is the number pledged in the August transaction to Bajaj Finance; 4.03 crore is the total Smiti shares reported as encumbered after it.
What did “4.03 crore” mean?
After the August pledge, ScanX reported that 4,03,84,000 Smiti-held Asian Paints shares were encumbered, equivalent to 4.21% of Asian Paints’ share capital. That is a post-transaction total, not an additional 4.03 crore shares pledged to Bajaj Finance on August 6. ScanX’s August report
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How does the September report differ?
A separate ScanX report described further pledges on September 16–17, 2026. It said Smiti pledged 26.79 lakh additional shares across lenders, including 6.11 lakh shares to Bajaj Finance. After those pledges, the report gave Smiti’s encumbered total as 3,86,70,000 shares, or 4.03% of Asian Paints’ share capital. ScanX’s September report
The September report’s total and percentage differ from the August report’s figures. They refer to separate dated reports and transactions, so the figures should be read with their respective dates rather than combined into a single running total.
August and September figures at a glance
| Report and event | Newly pledged shares | Lender(s) | Reported encumbered total afterward | Share of capital afterward |
|---|---|---|---|---|
| August 6, 2026 | 41,66,000 | Bajaj Finance | 4,03,84,000 | 4.21% |
| September 16–17, 2026 | 26.79 lakh across lenders, including 6.11 lakh to Bajaj Finance | Multiple lenders | 3,86,70,000 | 4.03% |
These transaction figures are reported by ScanX and have not been independently verified here. InvestyWise’s September account also attributes its information to BSE, but the underlying exchange filings were not directly reviewed. InvestyWise’s September account
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The reports describe an encumbrance of promoter-held shares for loan collateral. They do not state how the loan proceeds were used, its repayment schedule, or any covenants. Nor do they establish that the pledge changed Asian Paints’ operations or financial performance. No named company or regulator quotation was reported in these accounts.
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