Rikhav Securities Ltd has received requests from nine members of its promoter group seeking reclassification from the 'Promoter and Promoter Group' category to the 'Public' category. The intimation was filed with BSE Limited on October 5, 2026, pursuant to Regulation 30 read with Regulation 31A(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The entities requesting reclassification include Makshi Infotech Private Limited, Parth Investment Consultants Private Limited, Punya Associates LLP, Aadarsh Trading LLP, CU Lakhani, MN Shah, D N Shah, S M Shah, and CJ Maniyar. Each of these entities currently holds nil equity shares in the company, representing 0% of the shareholding.

Regulatory Compliance and Undertakings

In their individual request letters, each entity stated that they are not directly or indirectly associated with the business of Rikhav Securities. They confirmed they do not exercise influence over business or policy decisions, nor are they involved in day-to-day management. The entities further certified that they do not hold more than 10% of total voting rights, do not have nominee directors on the board, and are not key managerial personnel.

Each entity provided an undertaking confirming compliance with conditions specified in clause (b) of Regulation 31A(3) of the SEBI LODR Regulations. This includes a commitment to comply with specific conditions for at least three years from the date of reclassification. Failure to comply would result in reclassification back to the promoter category.

Next Steps for Board Approval

The company stated that these requests will be placed before the Board of Directors for consideration at its next meeting. Upon receipt of board approval, Rikhav Securities will submit an application to BSE Limited seeking a no-objection certificate for the reclassification. The intimation has also been uploaded to the company's investor relations webpage for public record.

What the Numbers Show

The primary analytical observation from this filing is that all nine entities seeking reclassification hold zero shares. This indicates that the reclassification is purely administrative, aimed at cleaning up the promoter group list by removing entities that have no economic stake or operational control. It does not involve any change in actual ownership structure or voting power, as the current shareholding percentage is already nil.

Rikhav Securities concluded its scheduled virtual group meeting for analysts and investors on September 24, 2026. The session, held from 4:00 pm to 4:45 pm IST, was conducted via a virtual platform.

The company issued the final intimation to BSE Limited on September 25, 2026, confirming the event details. This follows the prior notice filed on September 21, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details

The interaction was structured as a group meeting attended by the management of Rikhav Securities Limited. Discussions were strictly based on publicly available information. The company confirmed that no unpublished price sensitive information (UPSI) was discussed or shared during the event.

Regulatory Compliance

The filing references Schedule III of the SEBI LODR regulations regarding prior intimation of such meetings. Hitesh Himatlal Lakhani, Managing Director of Rikhav Securities, signed the disclosure digitally on September 25, 2026. The company noted that the meeting may be cancelled or rescheduled due to exigencies.