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Shri Gang Industries & Allied Products Ltd has received BSE approval to reclassify 10 individuals — Ms. Nishi Arora, Ms. Achal Ahuja Arora, Mr. Manik Arora, Mr. Shobit Arora, Mr. Rajan Arora, Mr. Rahul Arora, Mr. Gurcharan Arora, Ms. Anju Arora, Ms. Parveen Kumari and Mr. Ankit Arora — from the 'Promoter and Promoter Group' category to the 'Public' category. The approval was granted on April 24, 2025 under Regulation 31A(3) of SEBI Listing Regulations, following the company's application dated February 17, 2025. Once effective, these shareholders will no longer be counted as promoters, which will reduce the company's total promoter shareholding and increase the public shareholding proportion.
The reclassification will materially reduce the promoter's aggregate stake in the company, increasing the public float and free-float availability. Shareholders should note that this is an administrative change in classification, not a sale of shares, and does not involve any cash transaction. The resulting promoter shareholding is likely to fall below the 50% threshold, which is an important consideration for corporate governance and control dynamics.