Enclosed herewith Reclassification Letter received from Prerna Vora on 22/04/2025
Awaiting price reaction for this filing.
Deccan Bearings Limited (BSE: 505703) has received a formal request from Mrs. Prerna Kiran Vora, one of its erstwhile promoters, to be reclassified from the 'Promoter' category to the 'Public' category under SEBI LODR Regulation 31A. Mrs. Vora states she currently holds 0.00% equity (Nil shares) in the company, having sold her entire holding to Mr. Satyajit Mishra through a Share Purchase Agreement dated 13 August 2024. Mr. Mishra subsequently completed an open offer on 25 March 2025 and is being recognized as the new promoter with a controlling stake in the company. Mrs. Vora confirms she is no longer on the board, not a KMP, has no family members holding shares, and exercises no control or influence over the company. The company has stated it will take the necessary steps to process this reclassification in due course. Note: The filing source labels the company as 'Satani Bearings Ltd', but the actual document is from Deccan Bearings Limited.
This filing formalizes a change of control that has already taken place — the original promoter group has fully exited, and Mr. Satyajit Mishra is now the new controlling promoter. Existing public shareholders should note the new controlling shareholder identity, though no immediate action or dilution is implied by this announcement.