Greenply Industries has received requests from eight members of its promoter group to be reclassified as public shareholders, citing nil shareholding and no involvement in the company's management. The requests, submitted via letters dated July 15, 2026, were made in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors will consider these requests in its next meeting.

The applicants include individuals and entities within the promoter group, such as Shobhan Mittal, Santosh Mittal, Shiv Prakash Mittal, Chitwan Mittal, Master Aditya Mittal, Prime Holdings Pvt. Ltd., Niranjan Infrastructure Pvt. Ltd., and Bluesky Projects Pvt. Ltd. All applicants confirmed they do not hold any equity shares in the company and do not exercise control over its affairs or decision-making processes. They also affirmed they are not represented on the Board and do not hold key managerial positions.

The reclassification is subject to compliance with specific conditions under Regulation 31A(3)(b) of the SEBI LODR Regulations. The applicants confirmed that, together with related persons, they do not hold more than 10% of the total voting rights in the listed entity. They further undertook to comply with the conditions regarding non-representation on the Board and non-involvement in key managerial roles for a period of not less than three years from the date of reclassification.

The following table details the members seeking reclassification:

The company stated that necessary steps will be undertaken in compliance with Regulation 31A of the SEBI LODR Regulations. The intimation was submitted to the stock exchanges on July 16, 2026, by Kaushal Kumar Agarwal, Company Secretary and Vice President-Legal.

Greenply Industries Limited has approved a corporate guarantee of up to INR 130 crore in favour of Federal Bank Limited to facilitate credit facilities for its wholly-owned subsidiary, Greenply Speciality Panels Pvt. Ltd. (GSPPL). The guarantee will secure a Capex Letter of Credit issued by the bank for the procurement of machinery aimed at expanding the manufacturing capacity of GSPPL's MDF plant. The corporate guarantee will be valid for a period of 12 months from the date of issuance of the Capex Letter of Credit, and the company will charge a guarantee commission from the subsidiary.

The Board of Directors of greenply industries approved the proposal during a meeting held on June 26, 2026. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the financials of Greenply Speciality Panels Pvt. Ltd. are consolidated with its own financials, and therefore, there will be no material impact on the company. However, the guarantee amount will be disclosed as a contingent liability in the financial statements in due course.

In addition to the financial approval, the board reconstituted the Risk Management Committee. The committee now includes Mr. Adika Ratna Sekhar as Chairman, Mr. Sanidhya Mittal, and Mr. Sanjiv Keshri, Chief Financial Officer. The board also updated the list of Key Managerial Personnel (KMP) authorized to determine the materiality of events and make disclosures to stock exchanges.

The updated list of authorized personnel includes Mr. Sanjiv Keshri, Chief Financial Officer, and Mr. Kaushal Kumar Agarwal, Company Secretary & Vice President - Legal. Mr. Agarwal is designated as the authorized person in the absence of the Chief Financial Officer. The meeting commenced at 06:15 p.m. and concluded at 06:40 p.m. on the same day.

Corporate Guarantee Details

Risk Management Committee Composition