Intimation of outcome of Board Meeting w.r.t.Request for re-classification from '' Promoter and Promoter Group" Category to " Public Category" pursuant to Regulation 31A of SEBI(LODR), 2015.
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The Board of Directors has approved the request from Mr. Rajesh Gupta (Outgoing Promoter) to be reclassified from 'Promoter and Promoter Group' to 'Public' category. Mr. Gupta confirmed he holds less than 10% of total voting rights and less than 1% including related persons. He does not exercise control, hold board seats, special rights, or serve as Key Managerial Personnel. The company confirmed it maintains Minimum Public Shareholding compliance and has no trading suspension or outstanding dues to regulators. The reclassification is subject to Stock Exchange approval.
This reduces the promoter group holding in the company, increasing public float. For shareholders, it signals a further dilution of promoter stake and potentially improved liquidity. Existing public shareholders benefit from reduced insider control.