Minutes of Board Meeting dated 28.04.2025 regarding reclassification of Promoter/Promoter Group to Public Category
Awaiting price reaction for this filing.
Citurgia Biochemicals has filed certified copies of board meeting minutes from 28th April 2025 approving the reclassification of 14 promoter/promoter group entities to the public category under SEBI's Regulation 31A. The reclassification covers 415,245 equity shares, representing just 0.31% of the company's total paid-up share capital. The entities are mostly from the Wadia group, including Nusli Neville Wadia, Nowrosjee Wadia & Sons Ltd, Bombay Dyeing, and Bombay Burmah Trading Corporation. The reclassification follows an order from the Securities Appellate Tribunal (SAT) dated 16th April 2025 directing the company to cooperate with SEBI. The company stated these persons are not involved in the company's day-to-day affairs, do not hold board positions, and their aggregate voting rights do not exceed 1%.
This is a minor corporate housekeeping action affecting only 0.31% of share capital and is subject to BSE approval. Shareholders should note the SAT/SEBI connection suggests regulatory scrutiny, but the reclassification itself is unlikely to materially impact stock price or control structure.