Approval letter received from stock exchange for reclassification of Polaroid Corporation from ''Promoter Group'' Category to ''Public'' Category.
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On the reaction day the stock moved 9.0 pts more than Nifty Microcap 250 and 9.5 pts more than its Other Food Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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BSE has approved the reclassification of Polaroid Corporation from the 'Promoter Group' to the 'Public' category under SEBI LODR Regulation 31A. Polaroid Corporation held 9,00,000 shares, representing 3.51% of the company's share capital. As a result, promoter group holding has decreased from 77.44% (1.98 crore shares) to 73.93% (1.89 crore shares), while public category holding has increased from 22.56% to 26.07%. The original application was submitted on October 21, 2022, and the approval was granted on October 16, 2025. The company remains firmly under promoter control with no change in actual ownership or control.
This is a procedural reclassification with no change in actual ownership or control. Promoters continue to hold nearly 74% of the company, so there is no material impact on shareholders. The public float increases marginally, which could slightly improve trading liquidity.