Coromandel International Limited has informed the Exchange regarding 'Intimation Under Regulation 30 Read With Regulation 31(A)(8) Of SEBI (LODR), 2015 Following Receipt Of Request For De-Classification From Promoter'.
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Coromandel Engineering Company Limited (CECL), currently classified as part of the promoter/promoter group of Coromandel International, has requested to be reclassified as a public shareholder. The request stems from a change in control of CECL itself — in December 2023, the Murugappa Group promoters sold their entire stake in CECL to outside buyers under a Share Purchase Agreement signed in September 2023. As of the request date (August 28, 2025), CECL holds zero equity shares in Coromandel International. The Coromandel International board will now consider the request, after which the company will seek approval from NSE and BSE for the reclassification.
This is a procedural housekeeping update — CECL no longer has any economic stake in Coromandel International and is simply being formally removed from the promoter list. There is no change in shareholding, voting power, or control of Coromandel International, so this should have no material impact on the stock price or shareholder value.