Announcement under Regulation 31A(8) of SEBI LODR Regulations.2015
Awaiting price reaction for this filing.
Grand Foundry Limited has submitted a disclosure informing exchanges that three persons - Ms. Heena Ashok Mehta, Ms. Minal Kiran Jangla, and Ms. Namita Hiten Jangla - have applied for re-classification from the Promoter/Promoter Group category to the Public category under Regulation 31A(10). The application was originally filed on 23rd April, 2025, and this disclosure is being submitted now following observations received from the Exchange.
When promoters reclassify to public category, it typically means they have sold or reduced their stake below promoter threshold levels. This reduces the promoter holding in the company and may impact the stock positively if the market views it as reducing overhang or negatively if it signals lack of confidence by insiders.