As detailed in the Letter attached herewith
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Awaiting price reaction for this filing.
The Board of Directors of Fundviser Capital (India) Ltd, at its meeting on 24th April 2025, approved the reclassification of Mrs. Namrata Kapil Jain, Ms. Prachi Dhannalal Jain, and Sureshchand Chhotelal Jain (HUF) from the 'Promoter/Promoter Group' category to the 'Public' category, under Regulation 31A of SEBI LODR Regulations. All three currently hold Nil equity shares in the company. This reclassification follows a Share Purchase Agreement (SPA) executed on 25th August 2023, under which new promoters Mrs. Kriti Jain and Mr. Sohan Lal Garg acquired the sellers' shares (17,75,000 and 1,85,154 equity shares respectively). The Acquirers subsequently completed an Open Offer on 18th December 2023 at Rs. 18 per share for up to 9,59,400 shares (26% of share capital), and emerged as the new promoters holding a 53.12% majority stake. Since shareholder approval is not required under Regulation 31A(10) for reclassifications pursuant to an Open Offer, the company will now apply to BSE for final approval through the Listing Portal.
This is a procedural/formal step reflecting a change of control that already happened in December 2023. The new promoters (Kriti Jain and Sohan Lal Garg) are firmly in control with 53.12% stake, while the outgoing promoters have already exited. No material impact on current shareholding or stock price is expected — the reclassification simply updates the public shareholding category to reflect the already-completed change in control.