Extract of Minutes of Board Meeting Regarding the Reclassification of Promoter and Promoter Group to Public Category
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Awaiting price reaction for this filing.
The Board of Directors of SC Agrotech Ltd, at its meeting held on 29th May 2025, approved the reclassification of 9 entities from 'Promoter and Promoter Group' to 'Public' category under SEBI LODR Regulation 31A. The entities include individuals (Sheela Maheshwari, Sumeet Chandak, Satya Narayan Chandak, Sanjay Chandak and their HUFs) and three companies (Sheel Biotech Limited, Vitro Biotechnologies Limited, and Jayshree Investments Pvt Ltd). All 9 entities currently hold zero shares in the company, representing less than 1% of total voting rights, and have confirmed they exercise no control over the company. The company will now submit a formal application to BSE seeking final approval for the reclassification.
Since all 9 outgoing promoters already hold zero shares, this reclassification is largely a formal/compliance exercise and does not materially change the actual ownership or voting structure of the company. It simply cleans up the promoter categorization and makes the shareholding pattern disclosure more accurate. Shareholders are unlikely to see any meaningful impact on stock price or control dynamics.