Disclosure under regulation 31A(10) of SEBI (LODR) Regulations, 2015 relating to reclassification of Promoter to Public pursuant to the open offer
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All four existing promoters of Genesis IBRC India Limited (Mr. Mastan Rao Pesala, Ms. Pesala Venkata Subbamma, Mr. Arun Kumar Pesala, and Mr. Srikanth Pesala) have sold their entire shareholding of 14,73,000 shares to acquirers Mr. Padmanabhan Krishnamoorthy and Ms. Venkatraman Varalakshmi via an off-market transfer on 8 January 2026. This follows a Share Purchase Agreement signed on 6 March 2025 and a Letter of Offer dated 17 November 2025. The company has now requested BSE to record the reclassification of these individuals from the 'Promoter/Promoter Group' category to the 'Public Category' under SEBI LODR Regulation 31A(10). With this transaction, the promoters' stake in the company has gone to zero and control has effectively shifted to the new acquirers.
This is a complete change of control event — the original promoter group has fully exited, and new acquirers now hold the shares earlier held by promoters. Retail investors should view this as a significant ownership change that could bring shifts in management direction, strategy, and governance, though stock price impact will depend on the acquirers' plans for the company.