ENCLOSED HEREWITH INTIMATION OF RECLASSIFICATION RECEIVED FROM PRERNA VORA
Awaiting price reaction for this filing.
Mrs. Prerna Kiran Vora, currently classified as a Promoter of Deccan Bearings Limited, has formally requested the Board to reclassify her from the 'Promoter/Promoter Group' category to the 'Public' category under Regulation 31A of SEBI LODR Regulations. She currently holds nil shares (0%) in the company, is not on the Board, and is not a KMP. In her letter, she notes that recent share transfers within the promoter group have brought the Promoter Group's total shareholding to less than 10% of the paid-up capital, making her reclassification permissible. The company has acknowledged receipt of the request and stated it will take necessary steps in due course.
This signals a meaningful dilution of the promoter group's identity in the company, with the promoter shareholding now under 10%. For shareholders, this means reduced promoter influence and a move toward a more widely-held public shareholding structure, though no immediate change in stock price is expected from the reclassification itself.