7nr retail submitted an application to BSE Limited on July 9, 2026, to reclassify Mr. Umang Vijaykumar Trivedi from the 'promoter' category to the 'public' category. The filing was made by Chetan Kumar Ojha, Managing Director, pursuant to Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This reclassification follows a board approval process and a request submitted by Mr. Trivedi.

The Board verified that the reclassification does not require shareholder approval as Mr. Trivedi, along with persons related to him, holds not more than 1% of the total voting rights in the company. The company confirmed it meets the minimum public shareholding requirements under Regulation 38 of the SEBI LODR Regulations. Additionally, the company stated that its share trading is not suspended by BSE and there are no outstanding dues to SEBI, BSE, or depositories.

Mr. Trivedi confirmed he currently holds 0 equity shares, representing 0.00% of the paid-up share capital. He provided undertakings confirming that he and his immediate relatives do not hold more than 10% of the paid-up equity share capital or voting rights, nor do they exercise control over the company's affairs. He also verified that he holds no position on the Board of Directors or as Key Managerial Personnel and is not a wilful defaulter or fugitive economic offender.

The applicant agreed to comply with specific conditions of Regulation 31A(3) of the SEBI LODR Regulations. He undertook to maintain compliance with sub-clauses (i), (ii), and (iii) of clause (b) at all times following the reclassification. Furthermore, 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 shareholding details of the promoter group individual seeking reclassification are as follows:

Upon receiving BSE approval, the company will effect this reclassification in the statement of shareholding pattern for the immediate succeeding quarter under Regulation 31 of the SEBI LODR Regulations.

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