We have to inform you that the request letters received from three promoters of the Company, on August 5, 2025 and August 12, 2025, seeking Reclassification of their shareholding from ....
ZFSTEERING · price
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The Board of ZF Steering Gear (India) Limited, at its meeting on September 8, 2025, approved the reclassification of three promoters — Mrs. Amita Jinendra Munot (1.62%), Mr. Piyush Jinendra Munot (1.28%), and Mr. Yash Munot (1.24%) — from the 'Promoter/Promoter Group' category to 'Public Shareholder(s)'. Together, they hold 3,75,800 equity shares, representing about 4.14% of the company's share capital. The Board found that these individuals meet all the conditions under SEBI's Regulation 31A, including not holding more than 10% voting rights, not exercising control, and not having any board or key managerial positions. The reclassification is still subject to approval from BSE and the company's shareholders.
This move reduces the promoter group's effective shareholding by around 4.14%, with these shares moving to the public float, which could marginally improve stock liquidity. The reclassification itself does not change the underlying ownership or cause any cash transaction, so the direct impact on share price is likely minimal, though it signals a cleaner separation between promoter and non-promoter shareholders.