Intimation of Reclassification
GYFTR · price
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Awaiting price reaction for this filing.
LKP Finance Ltd has informed the stock exchange that Hindon Mercantile Limited and Kapil Garg have completed the acquisition of 56,96,312 equity shares (45.32%) from the existing promoter group (the Doshi family and related entities), and Hindon Mercantile additionally picked up 19,97,068 shares (15.89%) from public shareholders. As a result, control of the company has shifted to the new promoters, who now hold a combined 61.21% of equity (Hindon Mercantile: 61.08%, Kapil Garg: 0.13%). The erstwhile promoter group, which no longer holds any equity shares, has applied for reclassification from 'promoter' to 'public' category under SEBI's Listing Regulations, confirming compliance with all conditions including holding under 10% voting rights.
This marks a complete change of control at LKP Finance, with the new promoter group consolidating over 61% ownership. Shareholders should expect new strategic direction and board changes under the incoming promoters, while the old promoter group exits entirely and loses special rights.