7nr retail has received a request from promoter Mr. Umang Vijaykumar Trivedi to reclassify his status from the 'promoter' category to the 'public' category. The request, dated July 3, 2026, was submitted in accordance with Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company intimated BSE Limited regarding the receipt of this request on July 4, 2026. Mr. Trivedi confirmed that he currently holds 0 equity shares, which constitutes 0.00% of the paid-up share capital of 7NR Retail Limited.

In his application, Mr. Trivedi provided several confirmations to support the reclassification. He stated that he, along with his immediate relatives, does not hold more than 10% of the paid-up equity share capital or voting rights in the company. Furthermore, he confirmed that he does not exercise control over the affairs of the company, directly or indirectly, and holds no special rights through formal or informal arrangements.

The applicant also verified that neither he nor his immediate relatives hold any position on the Board of Directors or as Key Managerial Personnel in the company. He declared that he is not a wilful defaulter as per Reserve Bank of India guidelines, is not a fugitive economic offender, and has no pending regulatory action against him.

Mr. Trivedi undertook to comply with specific conditions of Regulation 31A(3) of the SEBI LODR Regulations. He agreed to maintain compliance with sub-clauses (i), (ii), and (iii) of clause (b) at all times following the reclassification. Additionally, he committed to complying with sub-clauses (iv) and (v) for a period of not less than three years from the date of reclassification.

The details of the shareholding of the promoter group individual seeking reclassification are outlined below:

The Managing Director of 7NR Retail Limited, Chetan Kumar Ojha, signed the intimation sent to the stock exchange.

7nr retail has scheduled a board meeting for July 8, 2026, to consider the acquisition of Cultureantique Jewellery Private Limited. The board will evaluate approving the acquisition price for up to 90,00,000 equity shares, representing 100% of the target company's shareholding. The consideration will be based on a valuation report provided by a registered valuer and will be settled through a share swap rather than cash.

The proposed transaction involves the issuance and allotment of fully paid-up equity shares to the shareholders of Cultureantique Jewellery Private Limited. This issuance will be made on a preferential basis in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The share swap ratio will be determined as per the valuation report to discharge the entire purchase consideration.

In addition to the acquisition approval, the board will discuss fixing the date, time, and venue for an Extra-Ordinary General Meeting (EGM) or an Annual General Meeting (AGM). The directors are also expected to approve the draft notice for the meeting along with the required explanatory statement.

The company has implemented a trading window closure for insiders effective from July 1, 2026. This restriction, compliant with Clause 4 of Schedule B of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, will remain in effect until 48 hours after the conclusion of the board meeting.

Agenda Details