SUBMISSION OF APPLICATION FOR RECLASSIFICATION OF STATUS OF PROMOTER TO PUBLIC
Awaiting price reaction for this filing.
Citurgia Biochemicals has informed the BSE that its Board, at a meeting on 28th April 2025 and following an order from the Securities Appellate Tribunal (SAT) dated 16th April 2025, has decided to continue with its long-pending application for reclassifying certain shareholders from the 'Promoter & Promoter Group' category to the 'Public' category. The original application was first submitted to the stock exchanges on 20th June 2022. The reclassification is being done under Regulation 31A of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations and remains subject to approval from BSE Limited and any other required approvals.
If approved, the company's promoter group holding will shrink as these shares move to the public category, which can improve public float and trading liquidity but also signals reduced promoter influence in the company. Investors should watch for the stock exchange's final approval and any change in the promoter shareholding figure in subsequent filings.