Receipt of the Request from Akshath finvest and Properties Private Limited (Promoter Group) for Reclassification from Promoter category into Public category Under Regulation 31A
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Sandu Pharmaceuticals has received a request from Akshath Finvest and Properties Private Limited, a promoter group entity, seeking reclassification from the 'Promoter Group' category to the 'Public' category under SEBI LODR Regulation 31A. Akshath Finvest currently holds 4,94,182 equity shares, representing 5.12% of the company's share capital. The entity has confirmed it holds below 10%, has no control over the company, and has no directors or promoters associated with Sandu Pharmaceuticals. The Board of Directors is scheduled to consider this request at its meeting on 28 May 2025.
If approved, the promoter group's aggregate shareholding will reduce by 5.12%, with those shares moving into the public shareholding category. This is a procedural reclassification, not a share sale, so there is no immediate change in ownership or cash flow, but it may slightly increase the public float available in the market.