Zen Technologies Limited has informed the Exchange regarding 'Intimation of receipt of request letter from person belonging to the Promoter category of the Company seeking re-classification to Public Category'.
ZENTEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mr. Ravi Kumar Midathala, a promoter of Zen Technologies, has formally requested the company to reclassify him from the 'Promoter' category to the 'Public' category. He currently holds 5,00,000 equity shares, representing just 0.55% of the company's paid-up share capital. The request follows the end of his tenure as Whole-Time Director and Key Managerial Personnel on June 28, 2025, after which he states he has no involvement in the company's management or decision-making. The reclassification still requires approval from the Board of Directors, NSE, and BSE. He has also confirmed he is not a wilful defaulter or fugitive economic offender, and has no special rights or control over the company.
This is a procedural status change for a very small shareholder (0.55%) and does not involve any share sale. The float available to public investors will marginally increase once approved, but this is unlikely to have any meaningful impact on the stock price or shareholder value.