Shree Rama Multi-Tech Limited has informed the Exchange regarding 'Intimation pursuant to disclosure requirements under Regulation 31A(8)(a) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015'.
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Shree Rama Multi-Tech Limited has informed the exchanges that Stericon Pharma Private Limited, a member of its Promoter Group, has requested reclassification to the 'Public' category under SEBI LODR Regulation 31A. Stericon was classified as a Promoter Group entity because its holding company, Nirma Chemical Works Private Limited (the actual promoter of SRMTL), used to own it. After NCWPL disposed of its stake in Stericon, Stericon no longer qualifies as part of the Promoter Group. Stericon currently holds 0 shares (0%) in SRMTL. The Board of Directors will now consider the reclassification request.
This is a procedural/housekeeping change with no impact on actual shareholding in SRMTL, since Stericon holds zero shares. It clarifies the promoter group composition due to a change in ownership of Stericon itself, not due to any sale of SRMTL shares. Investors should not expect any change in the company's promoter shareholding or stock price from this announcement.