Intimation of Demise of Mr. Abburi Venkateswara Rao, Promoter Disclosure under Regulation 30 and 31A of SEBI (LODR) Regulations, 2015
AVANTEL · price
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Avantel Limited has informed the stock exchanges about the passing of Mr. Abburi Venkateswara Rao, aged 87, on July 21, 2025. He was a promoter of the company and held 23,78,786 equity shares, representing 0.90% of total shareholding. As per SEBI (LODR) Regulations, he will cease to be part of the Promoter/Promoter Group of the company. The transmission of his shareholding to the nominee is currently in process, and the shares will continue to be reflected in his name until the transmission is completed.
This is a procedural disclosure with limited impact on the stock since the deceased promoter held only 0.90% equity. Shareholding will transfer to the nominee, so overall promoter group stake remains largely unchanged.