Sudarshan Chemical Industries Limited has informed the Exchange regarding Notice of Postal Ballot
SUDARSCHEM · price
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Sudarshan Chemical Industries has sent a Postal Ballot Notice to shareholders seeking approval to reclassify members of the Mr. Pradeep R. Rathi Group from the 'Promoter/Promoter Group' category to the 'Public' category. The three applicants are Pradeep Ramwilas Rathi (34,24,740 shares, 4.36%), Rahul Pradeep Rathi (30,23,859 shares, 3.85%) and Subhadra Pradeep Rathi (Nil shares), collectively holding 8.21% of equity. If approved, the promoter group shareholding will fall from 16.40% to 8.19%, while public shareholding will rise from 83.60% to 91.81%. The Board approved the request on 29th May 2025, and BSE and NSE have already given their no-objection on 15th July 2025. Voting is through remote e-voting only, from 8th August to 6th September 2025, with NSDL appointed as the e-voting platform. The applicants and their related parties will not be allowed to vote on this resolution.
If passed, this will reduce the promoter shareholding by 8.21 percentage points and increase the public float, which should improve stock liquidity and align the company more comfortably with minimum public shareholding norms. The change is procedural in nature since the Rathi group was already not involved in management and Mr. Pradeep Rathi had resigned as a director before the request, so the operational and strategic direction of the company is unlikely to change.