Landmark Cars Limited has informed the Exchange regarding ''Application received from Person falling under Promoter Group for Reclassification of status to Public under Regulation 31A of LODR, 2015''.
LANDMARK · price
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Landmark Cars Limited received a reclassification request from a Promoter Group member dated May 21, 2026. The member seeks to change their status from 'Promoter Group' to 'Public' category under SEBI's Regulation 31A. The Board of Directors will review this request in due course as per regulatory timelines. No details have been provided about the identity of the applicant or the number of shares involved. The company will inform the exchanges once the board decides on the application.
This indicates a potential reduction in the promoter group's shareholding or influence. Until the board approves and actual shareholding changes are disclosed, the impact on stock price remains uncertain but could signal reduced promoter backing for the stock.