we wish to inform you that the Board of Directors of the Company considered and approved the requests received from Promoter group for seeking Reclassification from the Promoter and Promoter ....
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Kisan Mouldings Ltd has informed BSE that its Board of Directors, at a meeting held on August 4, 2025, approved requests from 10 members of the promoter group seeking reclassification from the 'Promoter and Promoter Group' category to the 'Public' category. Together, these outgoing promoters hold 46,80,506 equity shares, representing 3.93% of the company's paid-up equity share capital. The largest individual stakes among them belong to Veena Vijay Aggarwal (1.11%), Amit Vijay Aggarwal (0.75%), and Ashok Jagannath Aggarwal (0.61%). The board noted that the rationale for the reclassification is that these promoters are not involved in the day-to-day affairs of the company, coupled with the fact that Kisan Mouldings has become a subsidiary of Apollo Pipes Limited. The reclassification still requires approval from shareholders and a no-objection certificate from BSE before it becomes effective.
This is largely a procedural reclassification rather than a change in actual ownership—these shareholders are not selling their shares, just moving from the 'promoter' bucket to the 'public' bucket. For investors, it means the formal promoter shareholding of Kisan Mouldings will reduce by 3.93% once all approvals come through, with the Aggarwal family members (other than Sanjeev Aggarwal, the Chairman & MD) stepping out of the promoter category. Stock price impact is likely minimal unless this is followed by actual share sales by these outgoing promoters.