With reference to the application made by the Company dated October 30, 2021, regarding the Reclassification of 'Promoter and Promoter Group' category to 'Public' category. We would like ....
ELITECON · price
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Awaiting price reaction for this filing.
BSE has approved Elitecon International's long-pending application (originally filed on October 30, 2021) to reclassify six individuals — Gita Gupta, Chandra Rekha Gupta, Sunanda Agrawal, Jay Shanker Gupta, Badri Prasad Singhania, and Savitri Sultania — from the 'Promoter and Promoter Group' category to 'Public' category. Notably, all six individuals hold 0 shares (0% shareholding), so the reclassification is procedural and does not change the overall shareholding pattern. The company's promoter holding remains at 95,00,00,000 shares (59.43%) and public holding at 64,85,00,000 shares (40.57%), both before and after the reclassification. Alongside the approval, BSE also issued a warning letter flagging the company's delay in submitting the disclosure to the stock exchange, citing non-compliance with Regulation 31A(8)(c) of the SEBI LODR.
This is a purely cosmetic/technical reclassification with no real impact on shareholding or stock price, since the outgoing promoters held zero shares. The warning letter for delayed disclosure is a minor compliance flag but not material to investors.