Intimation of request received for reclassification of Shareholding from Promoter and Promoter Group Category to Public Category under Regulation 31A of SEBI (LODR) Regulations, 2015.
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Pratik Panels Ltd has informed BSE that two of its promoters — Mr. Pankaj Mishra and Mrs. Devyani Mishra — have formally requested the company to reclassify their shareholding from the 'Promoter and Promoter Group' category to the 'Public' category under SEBI LODR Regulation 31A. According to the attached request letter, both individuals currently hold 0 equity shares, representing 0% of the company's total equity capital. They have stated that they do not exercise any control over the company, hold no board positions, and are not KMPs or wilful defaulters. The reclassification will first need approval from the company's Board in a forthcoming meeting, followed by approval from the Stock Exchanges.
This signals a complete promoter exit by these two individuals, as they already hold zero shares. If approved, it will reduce the formal promoter group size in the company. Shareholders should note this is primarily an administrative reclassification rather than an active sale event, and final approval is still pending from the Board and BSE.