Industrial Investment Trust Limited has informed the Exchange regarding 'Disclosure under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
IITL · price
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The Board of Industrial Investment Trust Limited has approved the request from Mr. Swaran Singh to be reclassified from the 'Promoter' category to the 'Public' category. Mr. Swaran Singh holds 25,000 equity shares representing 0.13% of the total voting rights. He is not on the Board, does not hold any key managerial position, and does not participate in the management of the Company. Since he and persons related to him together hold less than 1% of total voting rights, shareholder approval was not required. The reclassification is subject to approval from BSE and NSE.
This is a routine administrative reclassification with minimal impact on the company's ownership structure. Mr. Swaran Singh holds only 0.13% of voting rights, so the change has negligible effect on promoter shareholding and no material impact on stock price.