Regulation 31A - Application to Stock Exchange for obtaining NOC w.r.t Request of Promoter reclassification
SBCL · price
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Shivalik Bimetal Controls Ltd has received a request from Solan Developers Private Limited dated May 11, 2026, seeking reclassification from the 'Promoter and Promoter Group' category to the 'Public' category of shareholders. The company has filed an application with both BSE and NSE seeking a No Objection Certificate (NOC) for this reclassification. This indicates that Solan Developers Private Limited, currently part of the promoter group, intends to exit or reduce its promoter status in the company. The reclassification will change the company's promoter shareholding structure once approved by the stock exchanges.
This reclassification reduces the promoter group holding count, which may affect the company's public shareholding compliance and potentially signal a reduction in promoter stake or intent to divest.