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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 that report was the total shares reported as encumbered after the transaction—not the number newly pledged to Bajaj Finance.
What happened in the August 2026 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 loan collateral. 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 figures are reported by ScanX and are not independently verified here against the underlying exchange filing.
What does “4.03 crore shares” mean?
In ScanX’s August report, 4,03,84,000 shares—about 4.03 crore—was Smiti Holding’s cumulative number of encumbered Asian Paints shares after the August pledge. The report put that total at 4.21% of Asian Paints’ share capital. It is distinct from the 41.66 lakh shares newly pledged to Bajaj Finance on August 6.
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How the August and September figures differ
A separate report describes later pledges in September. Keep its figures tied to that later event; they are not a replacement for the August report’s post-transaction total.
| Reported event | Newly pledged shares | Lender information | Cumulative encumbered shares after event | Share of capital |
|---|---|---|---|---|
| August 6, 2026; reported by ScanX | 41,66,000 | Bajaj Finance | 4,03,84,000 | 4.21% |
| September 16–17, 2026; reported by ScanX | 26.79 lakh across lenders, including 6.11 lakh to Bajaj Finance | Multiple lenders; Bajaj Finance received 6.11 lakh | 3,86,70,000 | 4.03% |
The September figures above come from a separate ScanX report. ScanX’s September report reports 26.79 lakh additional shares pledged across lenders on September 16–17 and a cumulative encumbered total of 3,86,70,000 shares, or 4.03% of capital, after those pledges. Because the reported cumulative totals and percentages differ between the two reports, do not treat them as a single uninterrupted count without checking the dated exchange disclosures.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the reports do—and do not—establish
The reports describe an encumbrance of promoter-held shares for a loan. They do not disclose how any loan proceeds were used, the repayment schedule, or loan covenants. Nor do they establish that the pledge changed Asian Paints’ operations or financial performance. A share pledge is information about collateral and encumbrance; by itself, it is not evidence of a change in the company’s business results.
The August figures are attributed to ScanX, which says its account is based on a disclosure submitted to BSE and NSE. The September report is also from ScanX. The underlying exchange filings were not directly verified for this account.
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