HandsOn Global Management (HGM) Limited has informed regarding Disclosure of material issue -request of Promoter Re-classification under Reg 31A
HGM · price
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The Board of Directors approved requests from three promoters — Stern Capital Partners LLC (5.51%), Mr. Surinder Rametra (0.95%), and Sun Investment Partners LLC (0%) — to reclassify their combined 814,246 shares (6.46%) from the Promoter category to the Public category. The reclassification request was initiated by the promoters themselves via letters dated May 11, 2026, citing reasons aligned with Regulation 31A of SEBI LODR. The Board approved the requests, but they remain subject to No-Objection from NSE and BSE, and final approval by shareholders. Sun Investment Partners LLC holds 0% shares but is still included in the reclassification request.
This reduces the listed promoter holding by 6.46 percentage points, which may affect the company's compliance with minimum public shareholding norms and could signal reduced promoter backing or a strategic exit by certain investor groups.