Disclosure under Regulation 31A of the SEBI (LODR) Regulations, 2015
IITL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Directors of Industrial Investment Trust Limited has approved the request of Mr. Swaran Singh for reclassification from the 'Promoter and Promoter Group' category to 'Public' category shareholder. Mr. Swaran Singh holds 25,000 equity shares representing 0.13% of the total voting rights in the company. He is not on the Board nor does he hold any key managerial position in the company. Since he and persons related to him hold less than 1% of total voting rights, no shareholder approval was required under Regulation 31A(3)(a)(vi). The reclassification is subject to approval from BSE and NSE, which will be undertaken in due course.
This is a minor structural change as Mr. Swaran Singh holds only 0.13% stake. The reclassification removes him from the promoter group definition, which may slightly reduce the disclosed promoter holding. No material impact on stock price expected.