Seeking approval for reclassification application under Listing Regulation 31A(3).
EXCELINDUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Excel Industries Ltd has filed an application with BSE and NSE seeking approval to reclassify Mrs. Malti D. Bhatia (NRI, holding 1,04,082 shares or 0.83% of paid-up capital) from the 'Promoter and Promoter Group' category to the 'Public' category under SEBI LODR Regulation 31A(3). The Board approved the request on February 3, 2026, citing that she has no involvement in company operations, holds insignificant shareholding inherited from late Dilipsingh G. Bhatia, and meets all conditions for reclassification. Post-reclassification, promoter group holding will reduce from 52.69% to 51.86%, while public holding will rise from 47.31% to 48.14%. The company has paid a processing fee of Rs 59,000 to BSE.
This is a minor, routine reclassification with no change in actual shareholding — promoter stake just moves from the 'promoter' bucket to the 'public' bucket. No material impact on stock price or shareholder value is expected.