Eimco Elecon (India) Limited has informed the Exchange regarding 'Intimation regarding receipt of Approval of Member(s) for Reclassification of Members of Promoter Group from 'Promoter/Promoters Group' Category to 'Public' Category under Regulation 31A of Securities and Exchange Board of India (LODR) Regulations, 2015'.
EIMCOELECO · price
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Eimco Elecon has informed the exchange that it has received approval from its members for reclassifying certain members of the promoter group from the 'Promoter/Promoter Group' category to the 'Public' category. This is being done under Regulation 31A of the SEBI Listing Regulations, which governs changes in promoter status. The reclassification means these individuals or entities will no longer be treated as part of the promoter group for regulatory purposes. No specific shareholding numbers or names of the reclassified members were provided in the filing.
This is a procedural change in how certain shareholders are classified and does not involve any buying or selling of shares. Promoter group holdings will technically reduce on paper, while the public shareholding count will increase, but actual ownership of the company remains unchanged.