Intimation for receipt of approval for reclassification of shareholding
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Shri Gang Industries has received approval from BSE to reclassify 10 members of the Arora family (including Ms. Nishi Arora, Ms. Achal Ahuja Arora, Mr. Manik Arora, Mr. Shobit Arora, Mr. Rajan Arora, Mr. Rahul Arora, Mr. Gurcharan Arora, Ms. Anju Arora, Ms. Parveen Kumari and Mr. Ankit Arora) from the 'Promoter and Promoter Group' category to the 'Public' category, under Regulation 31A of SEBI Listing Regulations. The application for this reclassification was originally made on February 17, 2025, and the approval was granted on April 24, 2025. Following this reclassification, these shareholders will no longer be counted as part of the promoter group, effectively reducing the size of the promoter group of the company.
This reclassification reduces the company's promoter group, which may change how the stock is perceived by the market — typically, a smaller promoter base can reduce confidence signals tied to promoter holding, and retail investors should monitor whether the remaining promoter holding stays above key thresholds like 50%.