Board meeting Outcome for Reclassification of erstwhile promoters from Promoter category to public category.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vega Jewellers' Board has approved the reclassification of Mr. Mallinath Madineni from the 'Promoter' category to the 'Public' category of shareholders, following his request dated November 24, 2025. He has confirmed that he and his immediate relatives hold less than 10% of the total voting rights, do not exercise control over the company, have no board position, and are not declared wilful defaulters or fugitive economic offenders. The reclassification now awaits approval from BSE. The filing also references the earlier reclassification of three other erstwhile promoters — Santan Investments Advisory LLP, Avishek Himatsingka, and Variable Plaza Pvt Ltd — all of whom now hold zero shares following open offers dated April 13, 2023 and January 19, 2024.
With one more promoter moving to the public category and three others already holding zero shares, the effective promoter group is shrinking, which modestly increases the public float. The change is largely procedural and is unlikely to move the stock materially, pending BSE approval.