The Hi-Tech Gears Limited has informed the Exchange regarding 'Intimation pursuant to Regulation 30 read with Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Receipt of request for reclassification from Promoter and Promoter Group category to Public category.'.
HITECHGEAR · price
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The Hi-Tech Gears Limited informed the stock exchanges that it has received a request from Dev Darshan Construction Private Limited, a promoter group entity, to be reclassified from the 'Promoter and Promoter Group' category to the 'Public' category under SEBI LODR Regulation 31A. The request is based on the fact that in March 2025, the original promoters Mr. Deep Kapuria and Mrs. Veena Kapuria sold their entire stake in Dev Darshan to non-promoter individuals and resigned from its board. Importantly, Dev Darshan currently holds zero (NIL) shares in the company and has no role in management or board representation. The company will now take the necessary steps as required under Regulation 31A, including seeking stock exchange approval.
This is a procedural/administrative reclassification with no actual impact on shareholding, since Dev Darshan holds NIL shares. It will not change the total promoter group holding or have any meaningful effect on the stock price.