Max India Limited has informed the Exchange regarding 'Intimation of submission of application for reclassification of promoter under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.'.
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Max India Limited has submitted an application to BSE and NSE to reclassify Ms. Neelu Analjit Singh, currently a promoter, into the 'Public' shareholder category under SEBI's Listing Regulations. She holds 20,000 equity shares of the company. The application was filed on April 16, 2025, following an earlier disclosure dated April 15, 2025. The move requires stock exchange approval before it becomes effective.
This is largely an administrative reclassification — the 20,000 shares remain with the same person but will no longer count toward the promoter group's shareholding. It signals that this individual is stepping away from the promoter identity, though the financial impact on the stock is minimal given the small share count.