Refer Attached letter

Promoter Below 50pctOwnership Changes View source PDF

BRNL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-0.3%1-day move

₹20.28

prior close

₹20.27

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-0.0-0.1-0.1-1.4-0.3-0.4+0.0-0.4+0.0-1.4-6.6-7.0-14.1—

Up moveDown movePending

AI summary

SREI Infrastructure Finance Limited (SIFL), which holds 1,66,30,000 equity shares (19.81% stake) in Bharat Road Network Limited, has requested re-classification from 'Promoter' to 'Public' category. SIFL underwent Corporate Insolvency Resolution Process under IBC, and NCLT approved NARCL's Resolution Plan on August 11, 2023. Post-resolution, NARCL holds 46% of SIFL, and SIFL contends it has not been part of the promoter group since that date. The request awaits Board approval and no-objection from Stock Exchanges.

Likely market impact

If approved, SIFL's 19.81% stake will be reclassified from promoter holding to public holding, potentially altering the company's promoter shareholding calculations and public shareholding compliance status.