EFC (I) Limited has informed the Exchange about "Intimation regarding receipt of approval for reclassification from Promoter category to Public category under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015"
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EFC (I) Limited has received approval to reclassify certain shareholders from the 'Promoter' category to the 'Public' category under Regulation 31A of SEBI's Listing Regulations. This means some shareholders who were earlier identified as promoters will now be treated as part of the public shareholding. The specific names of the shareholders being reclassified and the size of the shareholding affected have not been disclosed in this intimation. This move typically reflects that these shareholders no longer play an active role in the management or control of the company.
This reclassification increases the effective public shareholding of the company and reduces the promoter group's reported stake. It may improve the stock's free-float and liquidity over time, but near-term price impact is likely limited as no shares are being bought or sold.