Outcome of Board Meeting for Promoter Reclassification
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The Board of Directors of Thirani Projects Limited, at its meeting held on 11th October 2025, approved the reclassification of M/s. Apanapan Distributors LLP from 'Promoter Group Shareholder' to 'Public Shareholder' under SEBI Regulation 31A. The LLP had requested this change on 8th October 2025, stating it is no longer involved in the company's business, holds no management or board role, and has no ability to influence decisions. As conditions for reclassification, the LLP confirmed it will hold no more than 10% of the company's equity, will not exercise control, will not be on the board, and will not act as a key managerial person. The reclassification is still subject to approval from the stock exchanges.
This is an administrative change in shareholding classification rather than a sale of shares. Once approved, the promoter group's stated shareholding in the company will decrease, while the public shareholding count will increase by the same proportion. No immediate share price trigger is expected, but it signals one of the promoter-group entities stepping away from the company.