Intimation under regulation 30 of SEBI LODR regulations on request of re-classification from promoter group category to public category
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Kartik Investments Trust Ltd has received a request from Yanmar Coromandel Agrisolutions Pvt Ltd (YCAS) to be reclassified from the 'Promoter and Promoter Group' category to 'Public' category. YCAS was part of the promoter group because Coromandel International Ltd (CIL) held 40% in YCAS, but this stake has dropped to 10.60% after Yanmar Asia (Singapore) infused Rs.149.72 crore into YCAS in September 2024. Since CIL now holds less than 20% of YCAS, YCAS no longer meets the definition of a promoter group entity. Importantly, YCAS already holds zero shares in Kartik Investments Trust, so there is no actual change in shareholding. The request will be placed before the Board for approval under Regulation 31A, followed by BSE approval.
This is a purely procedural reclassification with no impact on shareholding or stock price, since YCAS already holds nil shares in the company. It simply cleans up the promoter group list to reflect the change in YCAS's own ownership structure.