Excel Industries Limited has informed the Exchange regarding 'Intimation Of Receipt Of Approval For Reclassification Application OfPromoter Under Regulation 31A Of SEBI (Listing Obligations AndDisclosure Requirements) Regulations, 2015'.
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Excel Industries Limited has received approval from both NSE and BSE to reclassify Mrs. Malti D. Bhatia from the 'Promoter' category to 'Public' category under SEBI LODR Regulation 31A. Mrs. Bhatia held 104,082 shares representing 0.83% of the company's shareholding prior to reclassification. The company had submitted this application in January-February 2026, and the exchanges granted their no-objection letters on April 16, 2026. This reclassification means Mrs. Bhatia will no longer be treated as part of the promoter group for regulatory and disclosure purposes.
The reclassification of Mrs. Malti Bhatia to public shareholder reduces the number of persons classified under the promoter group. This may signal a reduction in the overall promoter holding in the company, which could have implications for future takeover code thresholds and corporate governance considerations.