Four promoter group members seek reclassification to Public category
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Star Housing Finance Ltd has received request letters from four promoter group members seeking reclassification to the Public category under SEBI Regulation 31A. The applicants are Akme Automobiles Private Limited holding 31,653 shares (0.04%), and Shantilal Jain, Yashpal Velchand Jain, and Leeladevi Jain, who hold zero shares each. They stated they never had control over the company's affairs and the board never acted on their advice. Combined promoter stake being reclassified is just 0.04%. Reclassification requires stock exchange approval.
Negligible impact on shareholding as combined stake moving to Public is only 0.04%. This is housekeeping; awaits stock exchange approval.