Shanti Overseas (India) Limited has informed the Exchange regarding 'Submission of Application for reclassification of person(s) from the category of Promoter/Promoter Group" to the category of "Public"'.
SHANTI · price
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Shanti Overseas (India) Limited has submitted an application to NSE seeking reclassification of certain members from the 'Promoter and Promoter Group' category to the 'Public' category, under SEBI LODR Regulation 31A. The request, originally received on March 24, 2025, was filed with the exchange on May 12, 2025. The persons seeking reclassification include Karuna Kacholia (330 shares, 0.003%), Ayush Kacholia (6,44,590 shares, 5.80%), and Mukesh Kacholia HUF (81,000 shares, 0.73%). Mukesh Kacholia, Sangeeta Kacholia, Rohan Kacholia, and Namrata Kacholia hold nil shares. In total, around 6.53% of shareholding is being moved out of the promoter group into the public category.
If approved, the company's promoter group shareholding will reduce by approximately 6.53%, increasing the public float. This does not involve any actual sale of shares—it is purely a reclassification of status. The change could marginally improve liquidity and free-float metrics, but is not likely to have a material impact on the stock price.