CG Power and Industrial Solutions Limited has informed the Exchange regarding 'Disclosure under Regulation 31A of SEBI LODR'.
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CG Power and Industrial Solutions has filed a disclosure under Regulation 31A of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations. This regulation typically pertains to the reclassification of a promoter or promoter group entity as a public shareholder, usually when the entity no longer meets the criteria for being classified as a promoter. The specific details of the parties involved, the shareholding being reclassified, and the rationale have not been disclosed in the available information. Approval from the stock exchanges and shareholders is generally required before such reclassification becomes effective.
Reclassification under Regulation 31A does not change the total promoter holding immediately — it requires exchange and shareholder approval first. If approved, it reduces the official promoter shareholding and increases the public shareholding count, which can affect corporate governance disclosures and minimum public shareholding norms.