Whalesbook
360 ONE WAM Ltd has corrected a discrepancy in its disclosure regarding promoter share pledges. The company informed the BSE that the 'Promoter Holding Already Encumbered' status for Kush Bhagat and Kyra Bhagat is now 'nil', confirming that none of their shares are pledged.
This clarification follows a query from the BSE received on April 29, 2026, with the company submitting its revised filing on April 30, 2026. Previously, disclosures dated March 11, 2026, had indicated that 13,50,000 shares, representing 0.33% each for Kush Bhagat and Kyra Bhagat, were encumbered.
Accurate reporting of share encumbrances is vital for maintaining market transparency and investor confidence. This revision ensures correct information is available, aligning with SEBI regulations and corporate governance standards.
The company, formerly known as IIFL Wealth Management, underwent a rebranding in January 2023. Earlier this year, on March 11, 2026, shares were transferred from Shilpa Bhagat to Kush Bhagat and Kyra Bhagat through an off-market transaction. The shares held by the KB Group, including those of Kush and Kyra Bhagat, are subject to certain transfer limitations outlined in a retention and profit-sharing agreement with APAC Company XV Limited.
Shareholders now have a clearer understanding of the actual encumbrance status of promoter shares. This resolution addresses a point of potential concern and reinforces the company's commitment to accurate regulatory filings.