Receipt of No-Objection Certificate from BSE for Reclassification of Promoter/Promoter Group Category to Public category pursuant to Regulation 31A of SEBI(LODR) Regulations, 2015
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Abhishek Infraventures Ltd has received a No-Objection letter from BSE for reclassifying three individuals — K G Madhusudhana, M Lakshmi Madhu, and Vidya Rajesh — from the 'Promoter/Promoter Group' category to the 'Public' shareholder category under Regulation 31A of SEBI LODR Regulations. The original application was filed on November 18, 2025, and BSE granted approval on June 1, 2026. BSE also issued an advisory letter flagging that the company delayed its disclosure of the original application by about six months. The company has been asked to take corrective steps to avoid future compliance lapses.
The reclassification will reduce the company's promoter group and increase its public shareholding, which may improve liquidity and float but also signals a gradual exit by certain founding individuals. The delayed disclosure and advisory from BSE is a minor compliance red flag that investors should note.