BSE and NSE approve promoter reclassification for HGM Limited
HGM · price
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HandsOn Global Management (HGM) Limited has received No Objection Letters from BSE and NSE approving the reclassification of three promoters to the Public category under SEBI Regulation 31A. The promoters are Stern Capital Partners LLC holding 5.51 percent (694,246 shares), Surinder Rametra holding 0.95 percent (120,000 shares), and Sun Investment Partners LLC holding 0 percent. Total reclassified stake is 6.46 percent. The move still needs shareholder approval and completion of other regulatory steps before becoming effective.
Reduces promoter holding by 6.46 percent once shareholder approval is obtained, raising public float and possibly lifting free-float liquidity.