We have filed an application with BSE for reclassification of Mr A V Palaniswamy from Promoter to Public category vide application No: 265282 dated 06.01.2026 As per instruction from ....
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National Fittings Ltd has withdrawn its earlier application to BSE seeking reclassification of Mr A V Palaniswamy from the Promoter group to the Public category. The reclassification was sought because the promoter had sold his entire shareholding to M/s Himgiri Castings Private Limited, which triggered an open offer after acquiring 34.04% of the company. The open offer ran from 09.09.2025 to 23.09.2025 and the completion certificate was received on 13.10.2025. The company now states that since the change of promoter group happens via open offer, the reclassification requires shareholder approval rather than a BSE NOC, and therefore the application (No: 265282 dated 06.01.2026) is being withdrawn. The company has also requested a refund of the Rs 54,000 application processing fee.
This is a procedural clarification rather than a new business event — the promoter exit and change of control via Himgiri Castings had already happened in September–October 2025. For shareholders, the promoter group has effectively changed hands, and the new promoter entity (Himgiri Castings) now holds a significant stake of around 34% in the company.