Date: 25th June, 2026
Ownership & Promoter Reclassification
- Disclosure made under Regulation 31A(10)(ii) of SEBI (LODR) Regulations, 2015 regarding reclassification of promoter(s)
- Reclassification follows Open Offer by BNG Investment LLC and Mr. Anubhav Agarwal (the "Acquirers") for acquisition of shares
- One acquirer completed transaction contemplated in Share Swap and Share Purchase Agreement (SSSPA) dated 20th March, 2026
- Actual transfer of equity shares from promoter to acquirer occurred on 24th June, 2026
- Intent of reclassification was previously disclosed in Draft Letter of Offer dated 8th April, 2026
Reclassification Conditions Met
In accordance with Regulation 31A(3)(b) of Listing Regulations, the reclassified promoter confirms:
- Does not hold more than ten percent of total voting rights in the company
- Does not exercise control over company affairs directly or indirectly
- Does not have any special rights through formal or informal arrangements including shareholder agreements
- Not represented on board of directors (including no nominee director)
- Does not act as key managerial personnel in the company
- Not a 'wilful defaulter' per RBI Guidelines or fugitive economic offender
Company Confirmations
In accordance with Regulation 31A(3)(c) of Listing Regulations, company confirms:
- Trading in company shares is not suspended by stock exchange
- No outstanding dues to SEBI, stock exchange, or any depositories
Effective Date and Status
- Mr. Anubhav Agarwal is now classified as 'Promoter' of the company
- The reclassified promoter moves to "Public Category" effective 24th June, 2026
- BNG Investment LLC continues acquisition process from other Promoters and Promoter Group
- Further intimations will be made in due course under Regulation 31A