Prozone Realty Limited has informed the Exchange regarding ''.
PROZONER · price
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Awaiting price reaction for this filing.
Prozone Realty Limited has received a request dated 27th May 2025 from Mr. Nigam Patel (Promoter, holding Nil shares) and Nigam Patel Family Trust (Promoter Group, holding 2,783 shares representing a negligible percentage) seeking reclassification from the 'Promoter/Promoter Group' category to the 'Public' category under Regulation 31A of the SEBI Listing Regulations. The Board of Directors will review the request at its meeting scheduled for 28th May 2025, after which the company will apply for necessary approvals from SEBI and Stock Exchanges. This is a procedural step initiated by the shareholders themselves, not a forced reclassification.
This signals that these promoter group members wish to exit the promoter classification, likely reflecting reduced involvement in the company. The financial impact on existing shareholders is minimal since the combined shareholding is negligible. The stock price is unlikely to be materially affected unless it leads to broader promoter group restructuring.