Davangere Sugar Company Limited has informed the Exchange about General Updates about approval of Stock Exchange for Company's application for reclassification made under regulation 31A of SEBI (LODR) Regulations, 2015
DAVANGERE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
BSE and NSE have approved Davangere Sugar Company's application to reclassify two erstwhile promoters - S S Mallikarjuna and S B Murugesh - from the Promoter and Promoter Group category to the Public category. S S Mallikarjuna held 20,81,740 shares representing 0.15% of the company, while S B Murugesh held 0 shares. Post-reclassification, promoter holding decreased marginally from 41.78% to 41.63%, with public holding increasing from 58.22% to 58.37%. The company applied for this reclassification in October 2024 and received approval on April 9, 2026. The change is minimal as one promoter held no shares at all.
This is a minor administrative reclassification with negligible impact on the company's shareholding structure. The promoter stake remains comfortably above the 25% minimum requirement, and there is no significant change in ownership dynamics or control structure.