Outcome of Board meeting including views of the Board on Reclassification Request received from Avyan Pashupathy Capital Advisors Private Limited, from ''Promoter'' to ''Public'' category ....
Awaiting price reaction for this filing.
Avyan Pashupathy Capital Advisors Private Limited (APCAPL), one of the company's promoters holding 13,91,869 equity shares (30.95% of voting share capital), has requested reclassification from the 'promoter' category to the 'public' category. The Board of Directors met on November 10, 2025 to consider this request under SEBI LODR Regulation 31A. The Board noted that the request does not explain how the pre-conditions under Regulation 31A(3)(b) are met. The Board has asked the Compliance Officer to seek a legal opinion on the matter and will take a decision in due course in compliance with SEBI regulations.
The reclassification is still under review and no decision has been made yet. If approved, it would shift a significant ~31% stake from promoter to public category, potentially changing the company's promoter shareholding structure and governance dynamics. Investors should watch for further updates on the board's final decision.