Intimation pursuant to Regulation 31A of SEBI (LODR) Regulations 2015 and amendments thereof Outcome of Board of Directors Meeting
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors of Unijolly Investments Company Ltd has approved the request from outgoing promoters to be reclassified from the 'Promoter' category to the 'Public' category shareholder. Seven promoters, including K Vidya Devi, Rajendra Prasad Challa, Soumya Challa, Jagadish Prasad Kanuri, Shantha Prasad Challa, K. Harishchandra Prasad, and K Rama Krishna Prasad, sought this reclassification. Notably, all these promoters currently hold zero shares (0.00% shareholding) in the company. The Board confirmed that the outgoing promoters do not hold more than 10% voting rights, do not exercise control over the company, and do not occupy any board or key managerial positions. The reclassification is now subject to approval from BSE Limited, as required under Regulation 31A(3) of the SEBI Listing Regulations.
This reclassification means the company will no longer have any identified promoters, which could be neutral to slightly negative for investors as it reduces promoter alignment with public shareholders. However, since these promoters already hold 0% shares, the impact on the stock is minimal. BSE approval is still pending.