Intimation regarding receipt of Shareholder approval w.r.t reclassification of promoter under Regulation 31A of LODR
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At an Extraordinary General Meeting held on January 21, 2026, shareholders of Edvenswa Enterprises approved the reclassification of Mr. Y. Ramesh Reddy from the 'Promoter' category to the 'Public' category, with 99.9997% of polled votes in favour. Mr. Reddy held 18,96,000 equity shares, representing 6.49% of the company's paid-up capital of 2,92,15,965 shares. BSE had already issued its No-Objection Letter on November 25, 2025. The stated rationale includes a pending SEBI order in the Brightcom Group Limited matter (currently sub-judice), pursuant to which Mr. Reddy had stepped down as Director and ceased to be a Key Managerial Personnel. With his exit from the promoter group, the combined promoter group holding falls to approximately 46.6% of the company's share capital, below the 50% threshold.
Going forward, Mr. Reddy's 6.49% stake will be classified under the public category rather than promoter group, pushing the overall promoter group holding below 50%. This changes the corporate control profile, slightly dilutes promoter influence, and may be noted by investors tracking promoter holding levels.