Amalgamated Electricity Company Limited has filed a disclosure dated May 6, 2026, under Regulation 31A(8)(c) read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing BSE Limited of an ongoing promoter reclassification process. The development follows intimation letters sent to the exchange on April 9, 2026, and April 10, 2026, pertaining to requests received from seven promoter entities seeking a change in their shareholder category.

Promoters Seeking Reclassification

Seven entities from the 'Promoter and Promoter Group' category have formally requested reclassification to the 'Public' category. The combined shareholding of these entities stands at 2,496 shares, representing 0.12% of the total shareholding. The table below provides a breakdown of each entity's holdings:

Regulatory Application Filed with BSE

In compliance with Regulation 31A(3) of the SEBI (LODR) Regulations, 2015, the company submitted an application on April 15, 2026, to BSE Limited along with all requisite documents, seeking the exchange's no-objection or approval for the proposed reclassification. The company has stated that further steps with respect to the reclassification will be undertaken in due course, in compliance with the applicable SEBI LODR Regulations.

Disclosure and Transparency

The disclosure was signed by Aradhana Kurup, Executive Director of the company, on behalf of Amalgamated Electricity Company Limited. The company has indicated that updates relating to this reclassification will be made available on its official website at www.aecl.net.in . The filing underscores the company's adherence to regulatory disclosure obligations as prescribed under SEBI's listing framework.

Amalgamated electricity Company Limited's Board of Directors has approved the reclassification requests from seven promoters and promoter group entities seeking to move from the 'Promoter/Promoter Group' category to the 'Public' category. The Board meeting held on April 10, 2026, considered and approved these requests under Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approval and Timeline

The company initially received formal reclassification requests on April 09, 2026, and promptly informed BSE Limited the same day. Following regulatory procedures, the Board of Directors convened on April 10, 2026, through video conferencing to deliberate on these applications. The approval is subject to consent from BSE Limited and other applicable regulatory authorities.

Promoter Shareholding Details

The reclassification involves both individual promoters and corporate entities with varying shareholdings in the company:

Regulatory Compliance Confirmations

All applicants have provided comprehensive declarations confirming their eligibility for reclassification. The Board verified that these promoters and promoter group entities do not hold more than 10% of total voting rights and do not exercise control over company affairs. Key confirmations include no special rights through formal or informal arrangements, no representation on the Board of Directors, and no involvement as Key Managerial Personnel for three years from approval date.

Corporate Governance Measures

The Board resolution emphasizes that none of the Directors, Key Managerial Personnel, or their relatives have any financial or other interest in this reclassification. The applicants have confirmed they are not wilful defaulters per Reserve Bank of India guidelines and are not fugitive economic offenders. Additionally, shareholder approval is not required as the combined voting rights of all applicants remain below one percent.

Next Steps and Implementation

Company Secretary Gaurav Sakpal has been authorized to execute all necessary documentation and submissions to BSE Limited and other regulatory authorities. The reclassification will become effective upon receiving approvals from stock exchanges and SEBI. The company has submitted certified extracts of the Board meeting minutes to BSE Limited for reference and record.