Outcome of Board meeting dated 28th April, 2025 related to Reclassification of Promoter/Promoter Group category to Public Category shareholders
Awaiting price reaction for this filing.
The board of Citurgia Biochemicals, following a Securities Appellate Tribunal (SAT) order dated 16 April 2025, has decided to continue its application to reclassify 14 promoter group members (largely Wadia family entities and related companies) from the 'Promoter/Promoter Group' category to the 'Public' category. The total shareholding involved is 415,245 shares, which is just 0.31% of the company's equity. The reclassification requires approval from BSE and other necessary authorities under SEBI's Regulation 31A. This is essentially a continuation of a process originally withdrawn in November 2022 and revived after the SAT ruling.
The reclassification itself involves a very small 0.31% stake and is a procedural/regulatory change rather than a real economic transfer of shares. Shareholders are unlikely to see any material change in stock price or ownership economics, though it marginally reduces the official promoter holding on record.