HGM Limited's Board of Directors, in its meeting held on May 30, 2026, considered and approved requests from certain promoters for reclassification of their shareholding from "Promoter" to "Public" category under Regulation 31A of SEBI LODR Regulations, 2015.
The approval is subject to obtaining no-objection from the stock exchanges (BSE Limited and National Stock Exchange of India Limited) and approval from the shareholders of the company.
Promoters Seeking Reclassification
The following three promoters had submitted formal requests dated May 11, 2026, for reclassification to public category:
| Sr. No. | Name of the shareholder | Category | No. of shares held | % of shares held |
| 1 | Stern Capital Partners LLC | Promoter | 694,246 | 5.51% |
| 2 | Mr. Surinder Rametra | Promoter | 120,000 | 0.95% |
| 3 | Sun Investment Partners LLC | Promoter | 0 | 0% |
| | Total | | 814,246 | 6.46% |
Timeline and Disclosures
The company had initially intimated the stock exchanges about these reclassification requests on May 11, 2026. This current communication serves as the formal intimation of the material event in accordance with Regulation 31A(8)(b) of SEBI LODR Regulations.
The Board determined that the reclassification requests are in conformity with the provisions of Regulation 31A of SEBI LODR.