Intimation under Regulation 31A of SEBI (LODR), Regulations, 2015 - Submission of Application for Reclassification of Promoter with BSE Limited on March 30, 2026
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Padam Cotton Yarns Ltd has applied to BSE on March 30, 2026, for the reclassification of 8 promoter entities from the 'Promoter and Promoter Group' category to the 'Public' category, as required under Regulation 31A of SEBI LODR Regulations. The entities include Padam Sain Gupta, Prem Lata, Radhika Gupta, Vivek Gupta, Vivek Gupta HUF, Rajev Gupta, Rajev Gupta HUF, and Rekha Gupta. Notably, all 8 promoters collectively hold 0 shares, representing 0% of the company's total equity. The Board of Directors had already approved the reclassification on March 27, 2026. Since these individuals and HUFs no longer hold any stake in the company, the reclassification is a procedural step to formally remove them from the promoter list.
This is largely a procedural filing with no material impact on shareholding or stock price, since the listed promoters already hold zero equity. The company's effective promoter holding will be formally reclassified, and remaining promoters (if any) would be the only ones recognized under SEBI's promoter framework.