Intimation of Recepit of NOC from MSEI Limited (MSEI) for reclassification from promoter Promoter / promoter Group category to Public Category shareholder of the company pursuant to Regulation ....
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Awaiting price reaction for this filing.
Abhishek Infraventures has received a No-Objection Certificate from MSEI for reclassifying three individuals — K.G. Madhusudhana, M. Lakshmi Madhu, and Vidya Rajesh — from 'Promoter/Promoter Group' to 'Public' category under SEBI LODR Regulation 31A. Together, these three hold only 3,200 shares (0.06% of the company). Post-reclassification, the Promoter group holding drops marginally from 26.41% (13,33,347 shares) to 26.34% (13,30,147 shares), while the Public category rises from 73.59% to 73.66%. No shareholder approval was needed since the outgoing promoters and persons related to them hold less than 1% of voting rights. The company is still awaiting the NOC from BSE Limited to complete the process.
This is a largely administrative change with negligible impact on the shareholding structure — only 0.07% of total shares are being reclassified, so there is no material effect on promoter control, public float, or stock price.