SUBMISSION OF APPLICATION FOR RECLASSIFICATION OF STATUS AS PROMOTER TO PUBLIC CATEGORY SHAREHOLDERS
Awaiting price reaction for this filing.
Citurgia Biochemicals has informed BSE that its Board has decided to continue with a long-pending application to reclassify certain shareholders from the 'Promoter & Promoter Group' category to the 'Public' category. The original application was first filed with the stock exchange on 20th June 2022. The Board reaffirmed this decision on 28th April 2025, following an order from the Securities Appellate Tribunal (SAT) dated 16th April 2025. The reclassification remains subject to approval from BSE and any other necessary regulatory clearances.
If approved, the shareholding currently classified under the Promoter group will shift to the Public category, which could change the promoter shareholding percentage and alter governance dynamics. This may be viewed neutrally unless it signals a meaningful reduction in effective promoter control.