This is to inform you that, the Company is in receipt of request under Regulation 31(A) of SEBI LODR 2015 from Promoters seeking reclassification from Promoter to Public Category.
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Kalind Ltd received reclassification requests from two promoters - Yagnik Bharatkumar Tank and Deniis Bhupendra Desai - seeking to move from the 'Promoter and Promoter Group' category to 'Public' category. Both promoters currently hold NIL shares (0%) in the company. Deniis Desai previously held a significant 70.17% stake but sold all shares through a Share Purchase Agreement on December 2, 2024. Both applicants have confirmed they do not hold more than 10% voting rights, exercise no control over the company, and are not represented on the board. The reclassification requires approval from the company's Board of Directors and BSE Limited before taking effect.
This indicates a further dilution of promoter holding, which may reduce promoter group's control over the company. With both promoters holding zero shares, the public shareholding will increase, potentially improving the stock's liquidity and free float.