Enclosed herewith Reclassification Letter received from Kiran Vora HUF on 22/04/2025
Awaiting price reaction for this filing.
Deccan Bearings Limited has received a request from Kiran Vora HUF to be reclassified from the Promoter Group to the Public category under SEBI LODR Regulation 31A. Kiran Vora HUF sold their entire shareholding to Mr. Satyajit Mishra through a Share Purchase Agreement dated 13 August 2024, after which Mr. Mishra launched an open offer that was completed on 25 March 2025. Kiran Vora HUF now holds 0% of shares, has no board or KMP representation, and exercises no control over the company. This is a procedural step formalising a change of control that has already taken place, with Mr. Satyajit Mishra set to be recognised as the new promoter.
This filing formalises a complete change of control at Deccan Bearings that occurred between August 2024 and March 2025. Existing shareholders should note that the old promoter group has fully exited and a new promoter has taken over, which is a significant corporate event though the change itself has already happened.