Seven Promoters of Unijolly Investments Company Limited Seek Reclassification to Public Category Under SEBI LODR Regulations
Seven promoters of Unijolly Investments Company Limited filed reclassification requests on May 15, 2026, seeking to move from the 'Promoter' to the 'Public' shareholder category under Regulation 31A of the SEBI LODR Regulations. All seven outgoing promoters — K Vidya Devi, Rajendra Prasad Challa, Soumya Challa, Jagadish Prasad Kanuri, Shantha Prasad Challa, K. Harishchandra Prasad, and K Rama Krishna Prasad — hold zero equity shares with a combined shareholding of 0.00%. Each promoter has confirmed non-involvement in management, absence of control over company affairs, and compliance with all applicable SEBI LODR conditions. The reclassification is pending approval from the Board of Directors and BSE Limited.

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Unijolly Investments Company Limited has disclosed to BSE Limited that seven members of its promoter group have submitted formal requests on May 15, 2026, seeking reclassification from the 'Promoter' category to the 'Public' category. The intimation was made under Regulation 30 read with Regulation 31A(8) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"). The disclosure was signed by Director Krishna Babu Cherukuri (DIN: 00993286) on behalf of the company.
Outgoing Promoter Shareholding Details
As on the date of the request letters, all seven outgoing promoters hold zero equity shares in the company. The table below presents the shareholding details of the promoter group seeking reclassification:
| Promoter Name: | No. of Shares | Shareholding (%) |
|---|---|---|
| K Vidya Devi | 0 | 0.00 |
| Rajendra Prasad Challa | 0 | 0.00 |
| Soumya Challa | 0 | 0.00 |
| Jagadish Prasad Kanuri | 0 | 0.00 |
| Shantha Prasad Challa | 0 | 0.00 |
| K. Harishchandra Prasad | 0 | 0.00 |
| K Rama Krishna Prasad | 0 | 0.00 |
| Total | 0 | 0.00 |
Basis for Reclassification Request
Each of the seven promoters has individually addressed a request letter to the Board of Directors of Unijolly Investments Company Limited, citing their disengagement from the management and affairs of the company. The promoters have stated that they hold zero equity shares, are not involved in the management of the company, do not have the right to appoint any director, and do not exercise control over management or policy decisions, whether directly or indirectly.
Conditions Confirmed by Outgoing Promoters
In their respective request letters, each outgoing promoter has confirmed and certified the following conditions in connection with the reclassification application:
- They, along with their immediate relatives, do not hold more than ten percent of the total voting rights of the company.
- They, along with their immediate relatives, do not exercise control over the affairs of the company directly or indirectly.
- They, along with their immediate relatives, do not have any special rights in the company through formal or informal arrangements, including through any shareholder agreements.
- They, along with their immediate relatives, do not hold any position on, nor are they represented on, the Board of Directors of the company (including having no nominee director).
- They, along with their immediate relatives, do not act as key managerial personnel in the company.
- They have not been declared as wilful defaulters as per Reserve Bank of India guidelines.
- They are not fugitive economic offenders.
- There is no pending regulatory action against them.
Post-Reclassification Undertakings
Each outgoing promoter has also provided undertakings regarding compliance following reclassification. They have committed to continuously comply with the conditions under sub-clauses (i), (ii), and (iii) of clause (b) of Regulation 31A(3) of the SEBI LODR Regulations from the date of reclassification. Additionally, they have undertaken to comply with conditions under sub-clauses (iv) and (v) of clause (b) of Regulation 31A(3) for a period of not less than three years from the date of reclassification. Non-compliance with either set of conditions would result in reclassification back to the promoter category.
Approval Process
The reclassification of the seven promoters is subject to approval by the Board of Directors of Unijolly Investments Company Limited and BSE Limited, in accordance with Regulation 31A of the SEBI LODR Regulations. The company has confirmed that a copy of each request letter has been attached to the disclosure filed with BSE Limited.
Historical Stock Returns for Unijolly Investments Co
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
How might the reclassification of seven promoters with zero shareholding affect Unijolly Investments' corporate governance structure and remaining promoter control dynamics?
Could this mass promoter reclassification signal a potential change in ownership, acquisition, or strategic restructuring of Unijolly Investments Company Limited?
What impact might the reduced promoter group size have on investor confidence and the stock's liquidity in the public market?






























