Please find attached our Letter dated July 18, 2025 to BSE Limited towards our Application for Reclassification of Promoters under Regulation 31A along with the supporting documents.
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Utique Enterprises Ltd has filed an application with BSE to reclassify its two promoter group entities — Honcho Trading Private Limited and Chivas Trading Private Limited — as public shareholders. As of December 31, 2024, these two entities together held 5,50,000 equity shares (about 0.99% of total capital), but by March 31, 2025, both had reduced their holdings to zero. The Board approved the reclassification on July 17, 2025. Post reclassification, the company will have no promoters and will qualify as a professionally managed listed entity with zero promoter holding.
The company will move to having no identifiable promoters, with public shareholders holding 94.04% and an Employee Trust holding 5.96% of total equity (5.56 crore shares). Existing shareholders face no dilution or rights change, but the absence of promoters may change governance dynamics and investor perception about control and accountability.