Please find attached our Letter dated July 18, 2025 to BSE Limited regarding Application for Reclassification of Promoters under Regulation 31A of SEBI (LODR) Regulations, 2015 along with ....
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Utique Enterprises has applied to BSE for reclassifying Honcho Trading Pvt Ltd and Chivas Trading Pvt Ltd from 'Promoter Group' to 'Public' shareholders under Regulation 31A of SEBI LODR. Both outgoing promoters currently hold zero equity shares (combined 0.99% as on Dec 31, 2024; 0% by March 31, 2025) and have no board representation or control over the company. The Board approved the reclassification on July 17, 2025, pending BSE approval. Post reclassification, Utique will be a professionally managed company with no identified promoters — public holding stands at 94.04% (5.23 crore shares across 1,31,662 shareholders) and an Employee Trust holds 5.96%.
Once BSE approves, the company will have zero promoter shareholding, making it professionally managed with no controlling group. This is a structural change but not financially material since the outgoing promoters already hold no shares, so there should be no immediate impact on share price or shareholder value.