Shree Rama Multi-Tech Limited has informed the Exchange regarding 'Disclosure requirements under Regulation 31A(8) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015'.
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Shree Rama Multi-Tech Limited had applied on April 14, 2025 to reclassify Stericon Pharma Private Limited from the promoter group to the public category. Both NSE and BSE rejected the application on July 16, 2025. The reason: Stericon Pharma's holding company, Nirma Chemical Works Private Limited (an existing promoter), holds 56.53% of the listed entity, making it a 'person related to the promoter seeking reclassification.' Under Regulation 31A(3)(b)(i), related persons together cannot hold more than 10% of voting rights for such reclassification to be allowed. Since the related promoter holds 56.53%, far above the 10% limit, the reclassification request is non-compliant and has been denied. As a result, Stericon Pharma continues to be classified as a promoter group entity.
No change in promoter holding or shareholding structure. The existing promoter (Nirma Chemical Works) continues to hold 56.53%, keeping promoter control firmly above the 50% mark. Shareholders should note that the attempt to reduce the promoter group failed, and there is no immediate dilution of promoter influence.