Shanthi Gears Limited has informed the Exchange about Grant of No-Objection from the Stock Exchanges for Re-Classification of Promoter Group
SHANTIGEAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shanthi Gears has received no-objection letters from both NSE and BSE to reclassify Algavista Greentech Private Limited (AGPL) out of its Promoter Group under SEBI's Regulation 31A. The company had applied for this reclassification on January 23, 2026, and both exchanges approved it on March 20, 2026. Once the reclassification is completed, AGPL will no longer be part of the company's promoter group and will be treated as a non-promoter entity. The company must now make further disclosures as required by SEBI rules for such reclassifications.
This is largely a procedural/administrative change rather than a transaction with immediate price impact. Over time, the reclassification will reduce the reported promoter group shareholding and shift that stake into the public/non-promoter category, which may slightly affect how investors view the company's promoter holding structure.