Mr A V Palaniswamy who is the promoter of the company has transferred all his shareholding to M/s Himgiri Castings Private Limited along with persons acting in concert and now holding -Nil- ....
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Awaiting price reaction for this filing.
Mr A V Palaniswamy, classified as a promoter of National Fittings Ltd, has transferred his entire equity shareholding to M/s Himgiri Castings Private Limited along with persons acting in concert, leaving him with nil shares (0%). He has requested reclassification from the 'promoter' category to the 'public' category under SEBI LODR Regulation 31A. The Board of Directors approved this request on 18.10.2025. The reclassification still needs shareholder approval and a no-objection from BSE before it becomes effective, and the actual share transfer was delayed due to Diwali holidays though it was initiated on 17.10.2025.
If approved, this formally removes Palaniswamy from the promoter group and reclassifies him as a public shareholder, which could change the company's promoter shareholding composition and free-float calculation. Retail investors should note the transfer is to another entity acting in concert, so effective promoter control may continue despite the label change.