Intimation regarding change in Promoter entity under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Automobile Corporation of Goa (ACGL) has informed the stock exchange about a change in its promoter entity following a composite scheme of arrangement at the Tata Motors group level. The Commercial Vehicles Business of Tata Motors has been demerged into a new entity now named Tata Motors Limited, while the original Tata Motors has been renamed Tata Motors Passenger Vehicles Limited. ACGL's promoter shareholding of 29,82,214 equity shares (48.98% of paid-up capital) has been transferred from the erstwhile Tata Motors Limited to the new Tata Motors Limited. As a result, the new Tata Motors Limited is now the promoter of ACGL in place of the earlier entity.
This is a corporate restructuring exercise at the promoter level with no change in the actual ownership percentage or ultimate control of ACGL. Shareholders should see no material impact on the stock, though the formal promoter name on records has changed.