In reference with the application submitted for the reclassification under Regulation 31A of SEBI (LODR) Regulations, 2015, the company had received an Approval Letter dated July 24, 2025 ....
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BSE has approved PNGS Gargi Fashion Jewellery's application to reclassify three promoter group members — Prafulla Dharmaraj Wagh (0.69%), Shrikant Digambar Kuber (0.69%), and Satish Digambar Kuber (0.68%) — to the public category, totaling 2,13,514 shares or 2.06% of shareholding. Post-reclassification, promoter holding reduces from 70.21% (72,72,553 shares) to 68.15% (70,59,039 shares), while public holding rises from 29.79% to 31.85%. Separately, BSE issued a warning letter to the company for a 3-day delay in making the required disclosure after submitting the reclassification application in July 2024.
The reclassification is purely a change in status (promoter to public) and does not involve any sale of shares or change in actual ownership. Promoter control remains strong at 68.15%, so there is minimal governance or dilution impact on existing shareholders. The warning letter is a procedural compliance flag and not expected to materially affect the stock.