Intimation of Submission of reclassification application with the stock exchanges under Regulations 31A of Listing Regulations
HESTERBIO · price
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Hester Biosciences has submitted applications to both BSE and NSE on 19 May 2026 seeking "No Objection" for reclassifying two individuals — Mr. Ravin Gandhi and Ms. Bela Gandhi — from the Promoter category to the Public category under SEBI's Regulation 31A. This follows an earlier submission dated 15 May 2026 initiating the same process. The company is seeking stock exchange approval for this change in shareholder classification, which effectively means these persons will no longer be treated as part of the promoter group for regulatory and disclosure purposes.
This reclassification reduces the official promoter group size. If Ravin Gandhi and Bela Gandhi held a meaningful stake, this change could dilute the promoter holding figure reported to the market, potentially impacting sentiment among investors who track promoter holding percentages.