Parties Involved
- Promoter: Mr. Pawan Kumar Mittal (Director, DIN:00749265)
- Target Company: Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Limited, CIN: L46209DL2015PLC275150)
- Entity in whose favor shares were encumbered: MSB e-trade Securities Limited
- Stock Exchange: BSE Limited
Key Quantitative Figures
- Number of Shares Released: 1,412,525 equity shares
- Percentage of Total Share Capital: 11.25%
- Promoter's Total Holding: 1,412,525 shares (11.25% of total capital)
- Post-Event Encumbered Shares: Nil (0%)
Details of the Encumbrance Event
- Type of Event: Release of Encumbrance (Unpledging)
- Type of Encumbrance: Pledge
- Date of Release of Encumbrance: 12-06-2026
- Date of Reporting: 13-06-2026
Historical Encumbrance Details (From Annexure-II)
The released encumbrance was originally created on 16/03/2026. It was a pledge over 100% of promoter Pawan Kumar Mittal's holding (1,412,525 shares, 11.25% of total capital) in favor of MSB e-trade Securities Limited. MSB e-trade Securities Limited is described as a stockbroker and trading platform. The stated reason for the original encumbrance was for the promoter "to take margin requirement for trading in" financial markets. The value of the shares on a reference date (June 25, 2021) was noted as Rs. 13.50 per share.
Post-Event Holding Structure
Following the release, the entire promoter holding of 1,412,525 shares (11.25% of total share capital) is now free of any encumbrance.