National Fittings Limited has submitted a disclosure to the Bombay Stock Exchange regarding its classification status under SEBI regulations. The company informed the exchange that it is classified as 'Not a Large Corporate' as per the framework provided in SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. This circular specifically addresses fund raising by issuance of debt securities by large entities.

The communication, dated April 28, 2026, was addressed to the Corporate Relationship Department of the Bombay Stock Exchange Ltd. The disclosure was signed by S. Aravinthan, Company Secretary of National Fittings Limited, and included the company's official stamp. The company is located in Kaniyur, Coimbatore, with the postal code 641659.

SEBI Circular Details

The SEBI Circular referenced in the disclosure establishes a framework for determining whether entities qualify as 'Large Corporates' for the purpose of debt securities issuance. The classification has implications for the regulatory requirements applicable to companies seeking to raise funds through debt instruments.

The disclosure was made for the information and records of the stock exchange. National Fittings Limited's confirmation of its 'Not a Large Corporate' status indicates that the company falls outside the scope of the specific regulatory framework applicable to large corporates for debt securities issuance.

National fittings Limited has officially withdrawn its application to the Bombay Stock Exchange (BSE) for reclassifying promoter A V Palaniswamy from promoter category to public group. The withdrawal was communicated to BSE through a letter dated 22.01.2026, citing procedural clarity regarding open offer acquisitions.

Background of the Reclassification Request

The company had initially filed application No. 265282 dated 06.01.2026 seeking reclassification of Mr. A V Palaniswamy from promoter to public group following the complete sale of his shareholding to Himgiri Castings Private Limited. The transaction necessitated the reclassification as Palaniswamy had divested his entire stake in the company to the acquirer.

Open Offer Process Details

The acquisition by Himgiri Castings Private Limited triggered an open offer requirement due to the 34.04% stake acquisition. The open offer process was successfully completed with the completion certificate received from the appointed manager Keynote, Mumbai on 13.10.2025.

Reason for Application Withdrawal

National Fittings Limited discovered that for acquisitions completed through open offer, the reclassification of promoters to public group must be undertaken by the company with shareholder approval. The company realized that obtaining a no-objection certificate (NOC) from BSE is not required for such reclassifications when they occur through the open offer route.

Financial Implications

The company has requested BSE to refund the application processing fees of ₹54,000 paid for the withdrawn application. This refund request was included in the withdrawal communication sent to BSE's Corporate Relationship Department.

Compliance and Next Steps

The withdrawal letter was signed by S. Aravinthan, Compliance Officer of National Fittings Limited. The company will now need to proceed with the promoter reclassification through the appropriate shareholder approval process rather than seeking BSE's regulatory clearance. This procedural correction ensures compliance with the correct regulatory framework for open offer-related promoter reclassifications.