Fruition Venture Limited hereby submit the Application for Re-initiation of Re-classification of Promoters under Regulation 31(A) of SEBI(LODR) Regulation, 2015.We have earlier submitted ....
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Awaiting price reaction for this filing.
Fruition Venture Limited has applied to BSE to re-initiate the reclassification of its promoter group following a change in control that occurred via an open offer in November 2022. In that open offer, new promoters Mr. Krishan Kumar Aggarwal and Mr. Nitin Aggarwal acquired 19,83,981 shares (49.60% of capital) from the former promoters at Rs 12.50 per share, and additionally bought 10,40,000 shares (26%) from public shareholders at Rs 13 per share, giving them a combined 75.60% stake post-offer. The former promoters — Mr. Nitin Jain, Mr. Sanhit Jain, and M/s Nitin Jain (HUF) — have fully exited and hold zero shares. The company had submitted a similar application on June 3, 2023, which was previously rejected by BSE, and is now re-filing with the required processing fee of Rs 54,000.
This is a procedural filing to formalize a control change that already took place in 2022. If approved, it will officially move the former promoters to the public shareholder category and confirm the new promoter group. There is no new financial event, so no immediate price impact is expected, though final approval would remove lingering regulatory uncertainty about the company's promoter classification.