BSE Approval -Promoter Reclassification
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BSE has approved Binny Mills' application to reclassify six promoter entities/individuals as public shareholders under SEBI's Regulation 31A. The outgoing promoters are Sheetala Credit and Holdings, Calcom Credit and Holdings, Rajat Chakra Credit and Holdings, Satluj Credit and Holdings, Twentieth Century-Apco Leasing, and Rajalakshmi N — all of whom hold zero shares. As a result, promoter holding (68.97%, or 17,81,806 shares) and public holding (31.03%, or 8,01,464 shares) remain unchanged before and after reclassification. Separately, BSE issued a warning letter because the company submitted its reclassification application on May 9, 2025 but disclosed it to the exchanges only on July 5, 2025 — a 57-day delay.
This is largely a procedural housekeeping step since none of the outgoing promoters actually hold shares, so there is no change in the ownership structure or shareholder rights. The warning letter flags a compliance lapse on timely disclosure but carries no financial penalty at this stage.