Shivalik Bimetal seeks NOC for Solan Developers reclassification
Shivalik Bimetal Controls Limited has applied to BSE and NSE for a No Objection Certificate regarding the reclassification of M/s Solan Developers Private Limited from the 'Promoter and Promoter Group' to the 'Public' category. This follows a request dated May 11, 2026, from Solan Developers, which currently holds zero shareholding. The reclassification is subject to necessary approvals under SEBI LODR Regulations.
*this image is generated using AI for illustrative purposes only.
Shivalik Bimetal Controls Limited has filed an application with BSE Limited and the National Stock Exchange of India Limited seeking a No Objection Certificate (NOC) regarding the reclassification of M/s Solan Developers Private Limited. The entity, currently part of the 'Promoter and Promoter Group', has requested a move to the 'Public' category. The company submitted the application to the stock exchanges on May 22, 2026, following the initial request received from Solan Developers on May 11, 2026.
Reclassification Details
The Board of Directors had previously reviewed the request from M/s Solan Developers Private Limited, which currently holds zero shareholding in the company. The reclassification is being pursued under the regulatory framework of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
| Parameter | Details |
|---|---|
| Entity Seeking Reclassification | M/s Solan Developers Private Limited |
| Current Category | Promoter and Promoter Group |
| Proposed Category | Public |
| Current Shareholding | Zero holding |
| Date of Reclassification Request | May 11, 2026 |
| Date of Application to Exchanges | May 22, 2026 |
| Regulatory Framework | Regulation 31A of SEBI (LODR) Regulations, 2015 |
Regulatory Status
The reclassification is subject to the receipt of the NOC from both BSE Limited and the National Stock Exchange of India Limited, along with any other necessary approvals. The disclosure was made in compliance with Regulation 30 read with Regulation 31A(8) of the SEBI LODR Regulations. The communication was digitally signed by Aarti Sahni, Company Secretary and Compliance Officer, on May 22, 2026.
Historical Stock Returns for Shivalik Bimetal Controls
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.31% | +12.21% | +30.19% | +54.08% | +35.73% | +744.59% |
How might the reclassification of Solan Developers from promoter to public category affect Shivalik Bimetal Controls' overall promoter shareholding percentage and corporate governance structure?
Could the exit of Solan Developers from the promoter group signal a broader restructuring of the promoter family's holdings or business interests in Shivalik Bimetal Controls?
What timeline can investors expect for BSE and NSE to grant the NOC, and are there any conditions under SEBI Regulation 31A that could delay or reject the reclassification?
20
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
