Shanti Overseas (India) Limited has informed the Exchange regarding 'Disclosure of Material issue Reclassification of persons forming part of the Promoter Group from Promoter Group Shareholders to Public Shareholder'.
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Shanti Overseas (India) Limited has informed the exchange about the reclassification of certain persons forming part of the Promoter Group as Public Shareholders. This means some individuals or entities previously identified as part of the promoter group will now be classified under the public category. The specific number of shares involved and the identities of the reclassified persons are not detailed in the available information. No transaction or change in actual ownership of shares is indicated; this is a change in classification only.
The reclassification reduces the promoter group's footprint and increases the public shareholding count, which can marginally affect promoter holding metrics and free-float calculations. Investors should watch for any follow-up disclosure specifying the quantum of shares reclassified to assess impact on promoter control.