Intimation of receipt of request for reclassification from ''Promoter/Promoter Group'' to the ''Public'' category in accordance with Regulation 31A of the Securities and Exchange Board ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 1.7 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Omnitex Industries (India) Ltd has received a request from Ashok Metharam Bhawnani, part of the promoter/promoter group, to reclassify his shareholding from the 'Promoter/Promoter Group' category to the 'Public' category under SEBI LODR Regulation 31A. Bhawnani holds 9,25,380 equity shares representing 22.01% of the company's total equity share capital. In his request, he states he has no nominee director on the board, does not participate in management, holds no key managerial position, has no special rights, and does not exercise control over the company's affairs. The reclassification now requires approval from the Board of Directors, the company's shareholders, and BSE Limited before it can take effect.
If approved, the promoter group's combined stake in Omnitex Industries would reduce by 22.01%, with those shares being reclassified as public shareholding. No shares are being sold or transferred — this is a category change only, but it signals reduced promoter influence and could affect how the stock is perceived by retail and institutional investors.