Suyog Gurbaxani Funicular Ropeways Limited informed the exchange about No Objection Certificate received from BSE Limited for reclassification of Mr. Somnath Lature from "Promoter Group" ....
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Suyog Gurbaxani Funicular Ropeways Limited has received a No Objection Certificate from BSE for reclassifying Mr. Somnath Gurushant Lature from the 'Promoter Group' category to the 'Public' category under Regulation 31A of SEBI LODR Regulations. The company had originally applied for this reclassification on February 11, 2026, and BSE granted its approval via letter dated June 10, 2026. This effectively removes one individual from the promoter group and adds them to the public shareholder base. No specific shareholding figures or the size of the stake being reclassified are mentioned in the filing.
This reclassification increases the public shareholding count and reduces the promoter group size by one member, which could modestly improve the stock's free float. However, since no holding percentages are disclosed, the material impact on share price or shareholder structure is likely minimal.