We wish to intimate that the Company has received request vide letter dated 27th May 2026 from the Promoter M/s Raconteur Granite Ltd requesting for reclassification from "Promoter" category ....
Awaiting price reaction for this filing.
Pipan Oils Limited has received a request from promoter Raconteur Granite Limited (RGL) dated 27th May 2026 for reclassification of its 5,00,000 equity shares (2.85% shareholding) from the 'Promoter / Persons Belonging to Promoter Group' category to the 'Public' category. RGL has confirmed it does not exercise any control over the company's affairs or management, is not represented on the board, and does not hold any special rights. The company has informed BSE under Regulation 31A(8)(a) of the SEBI LODR Regulations, 2015. RGL has affirmed it satisfies all conditions under Regulation 31A(3)(b), including holding less than 10% voting rights and not being a wilful defaulter or fugitive economic offender.
If approved, this reclassification will reduce the promoter group's total shareholding below 50%, which may have implications for future acquisition rules and corporate governance classification of the company.