We wish to inform that the Company has received Request for Reclassification from Promoter Category to Public Category from Mr. Pritesh Doshi and Maxgainz Finserve Private Limited. Please ....
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Awaiting price reaction for this filing.
Two promoter-group entities — Mr. Pritesh Doshi (holding 22,500 equity shares) and Maxgainz Finserve Private Limited (holding 9,66,944 equity shares) — have formally requested the board to reclassify them from the 'Promoter' category to the 'Public' category in the company's shareholding pattern, together accounting for 9,89,444 shares. Both applicants have submitted undertakings stating they do not exercise control over the company, do not hold more than 10% voting rights, have no board representation, and are not willful defaulters or fugitive economic offenders. The applications, filed on November 20, 2025, cite SEBI Regulation 31A of the LODR Regulations 2015 and include a three-year compliance commitment failing which they would be re-added to the promoter group. No share sale is involved in this filing — it is purely a change of category classification for shareholding-pattern purposes.
This move signals promoters distancing themselves from active control and oversight of the company; while there is no share sale, the shift reduces the size of the promoter group as classified, which may matter for compliance thresholds and corporate governance optics. The stock itself is unlikely to see a major reaction since no equity is changing hands, but the development is notable for assessing promoter intent.