Intimation of Receipt of Approval for Reclassification of Promoter to Public.
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Awaiting price reaction for this filing.
Vega Jewellers Ltd has received approval from BSE (vide letter dated January 29, 2026) for reclassifying Mr. Mallinath Madineni from the 'Promoter' category to the 'Public' category under Regulation 31A of SEBI LODR Regulations, 2015. The outgoing promoter holds 6,986 shares, representing just 0.07% of the company's shareholding. The company had applied for this reclassification on November 28, 2025, and BSE has now granted its no-objection. The company is required to make further disclosures related to this reclassification as per applicable rules.
This is a minor administrative change involving a very small stake (0.07%), so it is unlikely to have any material impact on the stock price or shareholding pattern. It signals that a small individual promoter no longer plays an active role in the company and will be treated as a public shareholder going forward.