Mangalam Global Enterprise Limited has successfully obtained regulatory approval from both major Indian stock exchanges for the reclassification of a promoter group member to the public category. The company received no-objection letters from the National Stock Exchange of India Limited and BSE Limited on March 24, 2026, marking the completion of a regulatory process initiated earlier this year.

Reclassification Details

The approval pertains to the reclassification of Radhika Bansal from the "Promoter Group" category to the "Public" category under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The reclassification involves a significant shareholding position within the company's ownership structure.

Regulatory Process and Timeline

The reclassification process followed established regulatory procedures under SEBI guidelines. Mangalam Global Enterprise Limited initially submitted its application to both exchanges on January 17, 2026, requesting the reclassification of the promoter group member.

Both exchanges processed the application and issued their respective approval letters:

• NSE Reference: NSE/LIST/COMP/MGEL/550/2025-2026
• BSE Reference: LIST/COMP/HG/745/2025-26
• Approval Date: March 24, 2026

Exchange Communications

The National Stock Exchange granted its no-objection through Manager – Listing Compliance Apeksha Raichura, while BSE Limited issued its approval through Deputy Vice President Jayshree Soni and Manager Shyam Bhagirath from the Listing Compliance department.

Both exchanges emphasized the company's obligation to ensure compliance with subsequent relevant disclosures of material events related to this reclassification, in accordance with the applicable provisions of Regulation 31A of SEBI LODR Regulations, 2015.

Company Compliance

The reclassification was communicated to the exchanges by Company Secretary & Compliance Officer Karansingh I. Karki (Mem. No. A30021), ensuring proper documentation and regulatory compliance. The company has been directed to forward the approval letters to depositories, registrar and share transfer agents for necessary action at their end.

This reclassification represents a standard corporate governance procedure that allows for the orderly transition of shareholding categories while maintaining transparency and regulatory compliance in the Indian capital markets.

Mangalam Global Enterprise Limited has disclosed comprehensive voting results for its Employee Stock Option Plan 2026, following the successful completion of the postal ballot process on February 20, 2026. The company submitted detailed voting results to stock exchanges on February 23, 2026, in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Comprehensive Voting Results

Both special resolutions were overwhelmingly approved by shareholders with identical voting patterns across all categories:

Approved Resolutions

Shareholders passed two special resolutions through the postal ballot:

Resolution 1: Approval for implementation of the Employee Stock Option Plan 2026 and grant of employee stock options to eligible employees of the company

Resolution 2: Approval for grant of employee stock options under the Employee Stock Option Plan 2026 to eligible employees of the company's wholly owned subsidiary and subsidiary companies

Postal Ballot Process and Timeline

The Board of Directors decided on January 13, 2026, to seek shareholder consent through postal ballot under the Companies Act 2013 and SEBI regulations. The company engaged MUFG Intime India Private Limited to provide remote e-voting facility through the instavote platform.

Regulatory Compliance and Oversight

The postal ballot was conducted in strict compliance with multiple regulatory frameworks including the Companies Act 2013, SEBI Listing Regulations, and various MCA circulars. Mr. Chirag Shah, Partner of M/s Chirag Shah & Associates, Company Secretaries in Practice, was appointed as scrutinizer to ensure fair and transparent voting.

Documentation and Disclosure

The company has made the detailed voting results and postal ballot proceedings available on its website at www.groupmangalam.com and on the stock exchange websites. The voting was conducted exclusively through remote e-voting, with notices sent electronically to shareholders whose names appeared in the register as of the cut-off date.

Mr. Chanakya Prakash Mangal, Managing Director, declared the results confirming that all conditions under Section 114(2) of the Companies Act 2013 were fulfilled and both resolutions were approved as special resolutions with overwhelming shareholder support.