Carborundum Universal Limited has informed the Exchange regarding Intimation under regulation 30 Read with regulation 31(A)(8) of SEBI Listing Regulation following receipt of request for De-classification from promoter
CARBORUNIV · price
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Coromandel Engineering Company Limited (CECL), currently classified as part of Carborundum Universal's Promoter Group, has requested to be removed from this category under SEBI Regulation 31A(8). CECL holds nil equity shares in the company. The request stems from a change in control of CECL on 29 December 2023, when the Murugappa Group sellers divested their entire shareholding in CECL under a Share Purchase Agreement executed on 29 September 2023. The request will be placed before CUMI's Board of Directors, and thereafter stock exchange approvals from NSE and BSE will be sought.
This is a procedural housekeeping matter with no impact on actual shareholding, as CECL already holds zero shares. The effective promoter shareholding of CUMI remains unchanged and there is no material effect on the stock price or shareholder rights.