Disclosure under Regulation 30 read with Regulation 31A of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015 ( ListingRegulations ) Request for re-classification received from Access EquityPrivate Limited
DEN · price
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Den Networks has disclosed that it has received a request from Access Equity Private Limited for re-classification under SEBI's Listing Regulations. Regulation 31A allows promoter or promoter group entities to be re-classified as non-promoter/public shareholders if they no longer meet promoter criteria. As per the process, the company will need to place this request before its shareholders and stock exchanges for approval. The filing does not mention the shareholding percentage of Access Equity Private Limited or the specific promoter group it belongs to, nor does it indicate whether approval has been granted yet. The request has only been received and disclosed.
If approved, Access Equity Private Limited's shares would move out of the promoter shareholding category into the public category, which could reduce the company's effective promoter holding percentage. However, no immediate impact on share price is expected until the re-classification is formally approved by shareholders and the stock exchanges.