Intimation under Regulation 31(A)(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding receipt of request letter for re-classification from promoter ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kartik Investments Trust Ltd informed BSE that Algavista Greentech Private Limited (AGPL), part of the company's promoter group, has requested to be reclassified as 'Public.' This follows E.I.D.-Parry (India) Limited selling its entire 50% stake in AGPL to Synthite Industries Private Limited, its joint venture partner. As a result, AGPL no longer meets the SEBI definition of 'promoter group.' Importantly, AGPL currently holds zero equity shares in Kartik Investments Trust. The reclassification request will be placed before the Board at its next meeting, after which approval will be sought from BSE.
This is a technical/housekeeping reclassification with no impact on shareholding since AGPL holds no shares. For shareholders, this simply removes a dormant entity from the promoter group list and may slightly clean up the promoter shareholding disclosure.