ENCLOSED HEERWITH INTIMATION OF RECLASSIFICATION RECEIVED FROM KIRAN VORA HUF
Awaiting price reaction for this filing.
Deccan Bearings Limited has informed BSE that it received a request from Kiran Vora HUF to be reclassified from the 'Promoter / Promoter Group' category to the 'Public' category under SEBI LODR Regulation 31A. The HUF currently holds 0% (Nil) shares in the company and is neither on the Board nor a KMP or bank signatory. The request follows recent share transfers among promoter group members, which has brought the total Promoter Group shareholding below 10% of the company's paid-up capital, making reclassification permissible. The company said it will take necessary steps for the reclassification in due course.
This reflects a meaningful reduction in promoter influence, with the entire Promoter Group now holding less than 10% of the company. If approved, the reclassification will further increase the public float, though it could also mean less committed insider ownership — a factor some investors watch closely for smaller companies.