Prozone Realty Limited has informed the Exchange regarding 'Intimation under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations, 2015") - Submission of application to Stock Exchanges upon receipt of request for Re-classification from Promoter Category to Public Category.'
PROZONER · price
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Awaiting price reaction for this filing.
Mr. Nigam Patel and Nigam Patel Family Trust, who are part of the promoter group, have requested reclassification from the 'Promoter' category to the 'Public' category. The company's Board of Directors considered this request on 28 May 2025. Following the Board's approval to proceed, the company submitted formal applications to both BSE and NSE on 02 June 2025, seeking their no-objection under Regulation 31A of SEBI Listing Regulations. The exchanges will now review and decide on the reclassification request.
If the exchanges grant approval, the promoter group's shareholding in the company will reduce and the public category holding will correspondingly increase. This is a procedural reclassification and does not involve an actual sale of shares, so it should not directly impact the stock price, though it may affect governance perceptions.