Shanthi Gears Limited has informed the Exchange about Intimation Under Regulation 30 Read with Regulation 31(A)(8) of SEBI Listing Regulation following receipt of request for Re-Classification from Promoter
SHANTIGEAR · price
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Shanthi Gears Limited has received a request from M/s. Coromandel Engineering Company Limited, a member of its promoter group, seeking reclassification from the 'promoter and promoter group' category to the 'public' category under SEBI Listing Regulations. As of the date of the request, Coromandel Engineering Company Limited holds Nil (0) paid-up equity shares, representing 0% of shareholding. The reclassification is subject to approval from the Board of Directors, NSE, and BSE.
This is largely a procedural/technical filing since the requesting entity already holds zero shares in the company. It is unlikely to have any material impact on the stock price or shareholder structure, as no actual change in beneficial ownership is occurring.