Submission of Disclosure upon receipt of the Request from the Promoters on March 25, 2026 for reclassification under Regulation 31A of SEBI (LODR), Regulations, 2015
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Padam Cotton Yarns Ltd has received requests from 8 members of its promoter and promoter group (Padam Sain Gupta, Prem Lata, Radhika Gupta, Vivek Gupta, Vivek Gupta HUF, Rajev Gupta, Rajev Gupta HUF, and Rekha Gupta) to be reclassified from the 'Promoter/Promoter Group' category to the 'Public Category' under Regulation 31A of SEBI LODR Regulations, 2015. Notably, all 8 applicants currently hold zero equity shares in the company (0% of total equity) and have no directorship. Each applicant has stated they have no involvement in the company's operations or decision-making. The Board of Directors will now consider these reclassification requests, and if approved, the company's promoter group shareholding structure would change.
This is essentially a housekeeping reclassification since these promoters already hold zero shares and have no active role. If approved, the promoter group holding would shrink, potentially increasing the public float on paper. Shareholders should monitor for Board approval and any resulting changes in promoter vs. public shareholding disclosure.