Approval letter received from stock exchange regarding re-classification of Promoters/Promoters group category to Public category
Awaiting price reaction for this filing.
BSE has approved Citurgia Biochemicals' application to reclassify 14 promoter entities (including Nusli Neville Wadia, Nowrosjee Wadia & Sons Ltd, The Bombay Dyeing and Manufacturing Company Ltd, The Bombay Burmah Trading Corporation Ltd, and others) from the 'Promoter/Promoter Group' category to the 'Public' category, effective May 16, 2025. A total of 4,15,245 shares (0.31% of the company) have been reclassified. As a result, the Promoter & Promoter Group shareholding reduced slightly from 99.67% to 99.36%, while the Public category shareholding increased from 0.33% to 0.64%. The reclassification follows an order from the Securities Appellate Tribunal (SAT) dated April 16, 2025. Separately, BSE also issued a warning letter to the company for delayed disclosure — the original application was submitted in June 2022, but disclosure was made only in May 2025.
The reclassification is a minor administrative change with no meaningful impact on the company's shareholding pattern, as the promoter group still holds over 99% of shares. The accompanying BSE warning letter for delayed disclosure is a minor governance concern but unlikely to materially affect the stock.