Company has received reclassification request from the Promoter and Promoter Group Members of the Company on 30th May 2026, for their reclassification into Public category.
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Umiya Tubes Ltd has received reclassification requests from 15 promoter/promoter group members who want to be moved from the Promoter category to the Public category. These include individuals and entities like Bharatkumar Patel, Surendrasinh Vaghela, Bhikhaji Kacharaji Chavda, B K Chavda HUF, and SNB Corporation Pvt Ltd. Most applicants hold either NIL or negligible shares, with Bhikhaji Kacharaji Chavda holding the largest stake of 357,368 shares (2.76%). All applicants state they are no longer involved in the company's business, do not exercise control, and do not hold any board representation. The reclassification is subject to SEBI LODR Regulation 31A conditions.
If approved, this would reduce the officially listed promoter group size and could increase the public shareholding percentage. The stock may see increased volatility as the market digests this reduction in promoter backing, especially given the 2.76% stake being reclassified.