Filatex Fashions Limited has informed the Exchange regarding 'Receipt of No-objection Certificate from BSE and NSE for Reclassification under Regulation 31A of SEBI (LODR) Regulations, 2015'.
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Filatex Fashions Limited has received No-objection Certificates from both BSE and NSE for reclassifying two promoters (Prashant Kumar Sethia and Rajkumar Sethia) from the Promoter Group to the Public Category. This reclassification is under Regulation 31A of SEBI (LODR) Regulations, 2015. The company's application was originally filed on November 15, 2025, and the exchanges granted approval on April 9, 2026. The reclassification is still subject to approval from shareholders in a general meeting. Once reclassified, these individuals will no longer form part of the Promoter and Promoter Group of the company.
This reclassification implies that Prashant Kumar Sethia and Rajkumar Sethia have likely reduced their shareholding in the company below the promoter threshold. For shareholders, this reduces the perceived 'promoter backing' of the stock, and the public shareholding percentage will increase once the reclassification is completed.