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Awaiting price reaction for this filing.
VCU Data Management has issued a Postal Ballot Notice seeking shareholder approval to reclassify two individuals from the Promoter and Promoter Group category to the Public category. Mr. Sanjay Vardhan holds 13,55,100 shares (8.74%) and Mr. Shripal Bafna holds 15,34,000 shares (9.90%), together representing about 18.64% of the company's equity. Both have confirmed they are not related to the current promoters, do not exercise control over the company, and are not on the board or acting as key managerial personnel. The Board has approved the reclassification on July 21, 2025 and September 19, 2025 respectively. Remote e-voting will be open from October 15, 2025 (9:00 a.m.) to November 14, 2025 (5:00 p.m.), with results to be announced within 48 hours of the conclusion of voting.
If approved, the promoter group's combined stake will fall by roughly 18.64%, increasing public shareholding and reducing promoter influence over company decisions. For shareholders, this is largely a procedural governance change with no direct financial impact, though it signals these individuals no longer identify with the promoter group.