Arur Footwear Limited (formerly S R Industries Limited) has received a formal request from AMS Infrastructure Private Limited to reclassify its shareholding from the Promoter Group to the Public category. The filing was submitted to the Bombay Stock Exchange on September 16, 2026.

AMS Infrastructure seeks to move its holding of 17,70,615 shares, representing 9.00% of the total equity, out of the promoter bracket. This action is taken under Regulation 31A(8)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Undertakings

To qualify for this reclassification, AMS Infrastructure submitted an undertaking confirming it meets specific regulatory criteria. The entity certified that it does not exercise control over the listed company’s affairs directly or indirectly. Furthermore, it confirmed that neither it nor related persons hold more than ten percent of the total voting rights in the company.

The undertaking also stated that AMS Infrastructure does not have any special rights through shareholder agreements and is not represented on the Board of Directors. The entity confirmed it is not a wilful defaulter as per Reserve Bank of India guidelines nor a fugitive economic offender.

Conditions for Reclassification

The reclassification is subject to ongoing compliance with SEBI norms. AMS Infrastructure undertook to continue complying with specific conditions regarding control and representation at all times from the date of reclassification. Failure to meet these conditions will result in immediate reclassification back to the Promoter Group.

Additionally, the entity must comply with further conditions for a period of not less than three years from the date of reclassification. Any breach during this lock-in period will also trigger a return to the promoter category.

The company noted that it has been rehabilitated from the Corporate Insolvency Resolution Process. Nidhi Pathak, Company Secretary and Compliance Officer, signed the intimation letter.

Arur Footwear Limited (formerly S R Industries Limited) has submitted its Annual Report for FY26 and issued the notice for its 36th Annual General Meeting (AGM). The meeting is scheduled for Saturday, September 26, 2026, at 12:30 pm in Mohali. The filing marks the company’s first full operational year under new management following its emergence from the Corporate Insolvency Resolution Process (CIRP).

Financial Performance: Loss Narrows

The company reported a net loss of ₹58.83 lakh for FY26, an improvement from the ₹86.64 lakh loss recorded in FY25. This reduction was driven by the commencement of revenue-generating activities, with revenue from operations standing at ₹1.50 lakh compared to nil in the previous year. Total income rose to ₹9.96 lakh from ₹0.84 lakh, primarily supported by other income of ₹8.46 lakh. However, finance costs increased significantly to ₹12.03 lakh from ₹2.14 lakh, reflecting higher borrowing costs during the revival phase.

Key AGM Agenda Items

The AGM will transact several ordinary and special business items critical to the company’s governance and structural alignment:

• Director Appointments: Shareholders will vote on the reappointment of Mr. Manish Kumar Gupta, who retires by rotation. Additionally, the appointment of Mr. Mayank Ahuja as an Executive Director, effective from May 28, 2026, requires shareholder approval. Mr. Ahuja brings experience in international FMCG and consumer sectors.
• Shifting Registered Office: A special resolution will be proposed to shift the registered office from Punjab to Himachal Pradesh. The new location at Village Singha, Una district, aligns with the company’s manufacturing facility, aiming to improve administrative coordination.
• MOA Alignment: Another special resolution seeks to align the Object Clause of the Memorandum of Association with Schedule I, Table A of the Companies Act, 2013, deleting obsolete "Other Objects" clauses.

Operational Updates & Brand Launches

FY26 marked the stabilization phase post-CIRP. The company launched "Pacalop," a Direct-to-Consumer (D2C) footwear brand targeting youth, available on Amazon and Flipkart. It received positive initial feedback in Tier 1 and Tier 2 cities. Two other brands are in development: "Arur," a premium sneaker brand, and "Navo," a school footwear brand, both currently in prototyping stages.

Listing Status & Corporate Actions

Trading in Arur Footwear’s equity shares remains suspended on BSE Limited. While the company completed the allotment of 1,96,73,500 equity shares as per the NCLT-approved Resolution Plan, the credit of these shares to demat accounts is pending BSE listing approval. Consequently, e-voting is not feasible for this AGM, and voting will be conducted via physical ballot papers only. The company has filed an application with the NCLT seeking clarifications on certain aspects of the resolution plan to expedite listing approvals.