EFC (I) Limited has informed the Exchange regarding '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 informed the exchange that it has received approval for reclassifying certain shareholders from the 'Promoter' category to the 'Public' category under Regulation 31A of SEBI (LODR) Regulations, 2015. This reclassification has been formally approved by the exchange, meaning these shareholders will no longer be counted as promoters of the company. The company has not disclosed specific details on the number of shareholders or the quantum of holdings being reclassified.
For shareholders, this means a reduction in the official promoter shareholding of the company, as some promoter-tagged holdings will now be shown under the public category. This could affect the perception of promoter control but does not necessarily indicate any actual sale of shares.