Intimation of submission of application for reclassification of promoter/promoter group to public category.
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Padam Cotton Yarns Ltd has submitted an application to BSE on April 15, 2025, to reclassify 8 individuals/HUFs from 'Promoter/Promoter Group' to 'Public' category. The outgoing promoters include Padam Sain Gupta, Prem Lata, Radhika Gupta, Vivek Gupta, Vivek Gupta HUF, Rajev Gupta, Rajev Gupta HUF, and Rekha Gupta. All 8 currently hold 0 equity shares (0%) of the company, so the reclassification does not change effective ownership. The company's total paid-up equity is 1,29,10,000 shares, all held by the public category. The Board of Directors approved the reclassification on April 11, 2025, and the company paid Rs. 50,000 + GST as processing fees to BSE. The reclassification requires BSE approval and the outgoing promoters have confirmed they have no board representation, no special rights, and no directorship in the company.
This is a procedural/cosmetic reclassification since the outgoing promoters already hold zero shares — there is no change in effective control or shareholding pattern. The stock price is unlikely to be materially impacted, but it formally removes these names from the promoter list and reflects that the company is now 100% publicly held with no promoter stake.