Outcome of the Board Meeting considering the Request for reclassification of Promoter under Regulation 31A of SEBI (LODR), Regulations, 2015
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The Board of Directors of Padam Cotton Yarns Ltd, at its meeting on March 27, 2026, approved the reclassification of 8 members of the promoter/promoter group from the 'Promoter' category to 'Public' category under Regulation 31A of SEBI (LODR) Regulations. Notably, all 8 individuals/entities — including Padam Sain Gupta, Prem Lata, Radhika Gupta, Vivek Gupta, Vivek Gupta HUF, Rajev Gupta, Rajev Gupta HUF, and Rekha Gupta — collectively hold 0 shares (0% of total equity). The reclassification is subject to approval from BSE and any other required authorities. The company will now file a reclassification application with the exchange along with supporting documents.
This indicates a complete exit of the listed promoter group members from the company's shareholding, which could affect promoter shareholding levels and corporate governance dynamics. Shareholders should watch for the stock exchange's approval and any updates on the remaining promoter structure, as this could influence control and minority shareholder interests.