Shree Hari Chemicals Export has received requests from four promoters seeking reclassification from the 'promoter' category to the 'public' category under Regulation 31A of the SEBI Listing Regulations. The move follows a complete exit from shareholding and management roles by the individuals involved.

The request was filed on September 19, 2026, and will be placed before the Board of Directors for approval. Upon receiving board consent, the company will submit an application for no-objection to BSE Limited.

Promoters Seeking Reclassification

The following entities and individuals have formally requested the status change:

• Mayank Sohanlal Ramuka
• Ramkala Sohanlal Ramuka
• Sohanlal Suwalal Ramuka HUF
• Sohanlal Suwalal Ramuka

All applicants confirmed they do not hold any shares or voting rights in the listed entity as on the date of the request. They also stated they are not involved in the day-to-day management activities or decision-making processes of the company.

Regulatory Compliance

Under Regulation 31A, the promoters affirmed several key conditions to qualify for reclassification. These include not exercising control over the affairs of the listed entity directly or indirectly. They also confirmed they do not represent the company on the Board of Directors and do not act as key managerial personnel.

Additionally, the applicants declared they are not wilful defaulters as per Reserve Bank of India guidelines nor fugitive economic offenders. They undertook to abide by all conditions listed in Regulation 31A post-reclassification.

Shree Hari Chemicals Export Limited promoters will execute an inter-se transfer of 56,595 equity shares on September 18, 2026. The transaction is priced at ₹236 per share, reflecting a premium over the recent volume-weighted average market price.

The move is disclosed under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It falls under the exemption clause 10(1)(a)(ii), which permits transfers among promoters without triggering an open offer obligation.

Transaction Structure

Three promoters are acquiring shares from three other promoter entities. The total volume represents 0.90% of the company’s total share capital.

Ramu Raman Agarwal emerges as the largest net buyer in this specific tranche, acquiring 22,595 shares from two different sources within the promoter group.

Pricing and Compliance

The acquisition price of ₹236 per share is compared against the volume-weighted average market price of ₹194.19 per share for the 60 trading days preceding the notice date. The acquirers have declared that the acquisition price does not exceed 25% above this benchmark price.

The company confirmed that all conditions specified under Regulation 10(1)(a) regarding exemptions have been duly complied with. Furthermore, the transferors and transferees have adhered to the disclosure requirements under Chapter V of the Takeover Regulations for the preceding three years.

What the Numbers Show

The acquisition price implies a significant premium over the recent market average. The difference between the transaction price (₹236) and the 60-day VWAP (₹194.19) indicates the shares are being transferred at approximately 21.5% above the prevailing market valuation metric used for regulatory compliance. This suggests the internal valuation or negotiated price among promoters is higher than the recent secondary market trading levels.