We are hereby submitting the disclosure under regulation 31A of SEBI (Listing Obligations and disclosure Requirements) Regulations, 2015 to intimate the reclassification of promoters to ....
Awaiting price reaction for this filing.
Pasupati Fincap Ltd has informed BSE that seven members of its promoter group have been reclassified from the promoter category to the public category under Regulation 31A(10) of SEBI (LODR) Regulations, 2015. This reclassification follows the completion of an open offer (Letter of Offer dated December 11, 2024) carried out under SEBI's Takeover Regulations, 2011. The promoters involved include individuals — Vidit Jain, Tushar Jain, Vrinda Jain, and Ramesh Kumar Jain — along with three entities: Shivani Textiles Ltd, Pasupati Spinning and Weaving Mills Ltd, and Shailja Investments Ltd. All listed promoters have confirmed they no longer exercise control over the company, hold less than 10% shareholding, and have no board representation. Each promoter has certified they meet the SEBI criteria to exit the promoter category.
This filing formalizes a change of control at Pasupati Fincap — the existing promoter group has effectively exited the company, and a new acquirer (via the open offer) now controls it. Retail investors should note that the takeover itself happened months ago, so the share price has likely already adjusted, but the governance structure and decision-making direction of the company have permanently shifted.