Ganon Products Limited promoter Kamla Business Ventures LLP disclosed the disposal of 87,743 equity shares, representing 0.93% of the company's share capital, through an open market sale. The transaction was executed on October 14, 2026, reducing the entity's stake to below the 5% threshold.

Stake reduction details

The disclosure, filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, indicates that the seller held 554,869 shares (5.93%) prior to the transaction. Following the sale of 87,743 shares, the remaining holding is 467,126 shares, equivalent to 4.99% of the total voting capital.

Transaction specifics

The mode of sale was strictly open market, with no involvement in off-market transfers, preferential allotments, or rights issues. The total equity share capital of Ganon Products remained unchanged at 9,33,10,000 before and after the transaction, indicating no dilution or issuance of new shares during this period.

Kamla Business Ventures LLP confirmed that it holds no warrants, convertible securities, or other instruments that would entitle it to receive additional voting rights in the company. The disclosure was submitted to BSE Limited, where the company's shares are listed.

Ganon Products Limited has received a formal request from Kamla Business Ventures LLP to reclassify its shareholder status from the "Promoter & Promoter Group" category to the "Public" category. The application was submitted in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The request was made by Kamla Business Ventures LLP, which is currently classified under the "Promoter" category. The entity stated that it does not exercise any direct or indirect control over the affairs of the company. This development follows standard regulatory procedures for entities seeking to exit promoter status when they no longer hold significant influence.

Declarations regarding control

In its submission, Kamla Business Ventures LLP provided specific declarations to support the reclassification request. These statements are critical for regulatory approval as they establish the absence of promoter-level influence. The key points include:

• The entity does not exercise any direct or indirect control over the company's affairs.
• There are no special rights held through formal or informal arrangements with the company or its other promoters.
• The entity is not represented on the Board of Directors and holds no position as Key Managerial Personnel.
• There is no involvement in the day-to-day management or decision-making processes.
• The entity has no intention to exercise or influence control over the company.

Regulatory process and next steps

The company informed BSE Limited about the receipt of this request on October 6, 2026. The filing included copies of the request letter, requisite declarations, and supporting documents for record-keeping purposes. The Managing Director of Ganon Products, Abhijeet Kacharu Jagtap, signed the disclosure.

Kamla Business Ventures LLP requested the company to initiate the necessary process for reclassification. This involves placing the matter before the Board of Directors and subsequently before the shareholders, as required under applicable provisions of the SEBI LODR Regulations. The entity undertook to provide any further information or documents required by the company, stock exchanges, SEBI, or other regulatory authorities during this process.