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LKP Securities Ltd has informed BSE about the sad demise of Mr. Mahendra V Doshi, a Non-Executive Non-Independent Director and promoter, on August 6, 2025. He held 92,58,107 equity shares (11.25%) in his individual capacity and an additional 1,96,89,579 shares (23.92%) held on behalf of partnership firm M/s L K Panday, totaling 2,89,47,686 shares (35.17%). In line with SEBI Regulation 31A(6)(c), he will cease to be part of the promoter/promoter group of the company. The disclosure has been made under Regulation 30 of SEBI LODR, 2015.
The exit of a major promoter holding 35.17% stake from the promoter group could lead to a significant shift in the company's promoter holding structure and may trigger reclassification or transmission of shares to legal heirs, which investors should monitor closely.