NRB Industrial Bearings Limited has informed the Exchange regarding 'Intimation of receipt of request for reclassification from the "Promoter Group" to the "Public" Category in accordance with Regulation 31A of the Securities and Exchange Board of lndia (listing Obligations and Disclosure Requirements) Regulations, 2015'.
NIBL · price
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NRB Industrial Bearings Limited (NIBL) has received a request from Ms. Harshbeena Sahney Zaveri to be reclassified from the 'Promoter Group' to the 'Public' category under SEBI LODR Regulation 31A. Ms. Zaveri currently holds zero equity shares (0.00% of paid-up capital) in the company. This request follows a family settlement agreement entered into on January 20, 2025, between the HSZ Family and the DSS Family, which separated the control of NRB Bearings (with HSZ Family) and NIBL (with DSS Family). Under the settlement, Mr. Devesh Singh Sahney (DSS) and his family will have exclusive control over NIBL, while the HSZ Family has agreed not to acquire any shares in NIBL for 10 years. The company will now follow the necessary process to effect the reclassification, including stock exchange approval.
This reclassification is procedural and follows an already-completed family settlement; it does not change the total promoter shareholding in NIBL since Ms. Zaveri holds no shares. Control of NIBL remains firmly with the DSS Family, and the reclassification formalizes the separation between the two promoter family branches, which may provide clarity to investors about the company's leadership and ownership structure.