Intimation of submission of application for re-classification of ELCOT
Awaiting price reaction for this filing.
Iykot Hitech Toolroom Ltd has submitted an application to BSE for re-classification of Electronics Corporation of Tamil Nadu Limited (ELCOT) from the 'Promoter & Promoter Group' category to the 'Public' category, under SEBI LODR Regulation 31A. ELCOT currently forms part of the company's promoter/promoter group, and this re-classification would move it into the public shareholder category. The application was submitted to BSE on February 5, 2025, and the intimation was signed by Whole-Time Director Likhitta Dugar. This change, once approved, would effectively reduce the company's promoter group shareholding while increasing the public shareholding count.
Once approved, the promoter group's combined shareholding in Iykot Hitech Toolroom will decline, and the free-float (public shareholding) will increase correspondingly. This is a structural/categorisation change rather than a transaction, so it may not directly move the stock price, but it changes how the company's ownership is classified for regulatory and index purposes.