Receipt of No Objection Certificate from BSE for Reclassification of Promoter/Promoter Group under Regulation 31A of SEBI (LODR) Regulations, 2015
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Ambassador Intra Holdings Ltd has received a No-Objection Certificate from BSE for reclassifying four individuals — Piyushbhai Mahendra Doshi, Sachin Jayprakash Jalan, Shikha Jalan, and Siddharth Ajmera — from the 'Promoter/Promoter Group' category to 'Public' shareholder category under Regulation 31A of SEBI LODR Regulations. The reclassification application was originally submitted on February 13, 2026, and BSE granted its no-objection on June 4, 2026 (Ref No: LIST/COMP/KR/106/2026-27). However, BSE also issued an advisory letter flagging a compliance lapse: the required disclosure about the submission of the application to stock exchanges was made on June 4, 2026, instead of within 24 hours (by February 14, 2026) as mandated under Regulation 31A(8)(c). BSE has warned the company to be careful in future to avoid recurrence of such lapses.
These four individuals will no longer be counted as promoters of the company, which could change the company's promoter shareholding structure and affect how the remaining promoter holdings are reported. However, BSE has also flagged a procedural non-compliance, which is a minor governance concern and could attract regulatory scrutiny if repeated, potentially weighing on investor sentiment.