Please find enclosed requests received from Promoter Group seeking re-classification from Promoter Group to Public Category.
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Awaiting price reaction for this filing.
Purple Finance Ltd has informed the exchanges that it has received requests from members of the Promoter Group seeking to be reclassified from the 'Promoter Group' category to the 'Public' category. This means certain individuals or entities currently classified as promoters no longer wish to be associated with promoter status. The reclassification, once approved, will reduce the company's promoter group shareholding. The company is required to seek approval from shareholders and the stock exchanges for this change. No details on the number of shares or entities involved have been disclosed in this update.
If approved, the effective promoter holding of Purple Finance Ltd will decrease, which may reduce promoter influence over the company. It could also marginally increase the public float, but the stock price impact is likely to be limited unless large holdings are involved.