AGPL seeks reclassification from Coromandel promoter group to public
COROMANDEL · price
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Algavista Greentech (AGPL) has requested reclassification from Coromandel's promoter group to public category. Reason: EID Parry sold its 50 percent stake in AGPL to JV partner Synthite Industries, taking EID holding in AGPL from 50 percent to nil. AGPL holds zero shares in Coromandel and does not meet promoter group definition under SEBI rules. Board will review the request and then seek no-objection from NSE and BSE.
Procedural reclassification with no impact on promoter stake or shareholding pattern since AGPL holds zero shares already.