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Awaiting price reaction for this filing.
The Board of Directors of International Data Management Ltd, at its meeting held on 28th May 2025, approved a request from Apollo Trading and Finance Private Limited to be reclassified from the 'Promoter' category to the 'Public' category under SEBI Listing Regulations. Apollo Trading holds 38,220 equity shares, representing just 1.74% of the company. The reclassification is still subject to no-objection from BSE, approval of shareholders, and any other required regulatory clearances. Apollo Trading confirmed it does not exercise control, does not hold more than 10% voting rights, has no board representation, and is not a wilful defaulter or fugitive economic offender.
This is a procedural reclassification of a very small promoter stake (1.74%) and is unlikely to materially affect shareholding structure or stock price. Shareholders will get to vote on the proposal, and the move increases public float marginally once approved.