Intimation of Approval of Reclassification of Promoter under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
Sparkle Gold Rock Ltd (formerly Sree Jayalakshmi Autospin Ltd, BSE Scrip 530037) has received BSE's no-objection to reclassify K.V. Prabhakar from the 'Promoter' category to the 'Public' category under SEBI LODR Regulation 31A. The promoter in question already holds 0 shares (0% stake), making this a procedural/technical reclassification. The company had originally applied on April 9, 2025, and BSE granted approval on February 23, 2026. Separately, BSE flagged a compliance lapse: the company disclosed the application on September 12, 2025, well after the 24-hour timeline required under Regulation 31A(8)(c), and was issued a caution advisory to avoid recurrence.
Since the reclassified promoter already holds zero shares, there is no real change in shareholding pattern or control — this is largely a book-keeping formality. The BSE caution over delayed disclosure is a minor governance red flag but unlikely to move the stock price materially.