Space Incubatrics Technologies Receives BSE Approval for Promoter Reclassification
Space Incubatrics Technologies Limited has received BSE's no-objection letter dated April 10, 2026, for reclassifying six promoters from promoter group to public category under SEBI regulations. The reclassified promoters collectively hold 92 shares representing negligible percentage of paid-up capital, with the approval coming in response to the company's October 17, 2025 application.
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Space Incubatrics Technologies Limited has successfully obtained BSE's no-objection letter for the reclassification of six promoters from the promoter and promoter group category to the public category. The approval, granted under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marks a significant corporate restructuring move for the company.
BSE Approval Details
The BSE Limited issued its no-objection letter numbered LIST/COMP/KR/025/2026-27 on April 10, 2026. This approval came in response to the company's application submitted on October 17, 2025, requesting the reclassification under Regulation 31A of the SEBI (LODR) Regulations, 2015.
Reclassified Promoters
The following six promoters have been reclassified from the existing "Promoter and Promoter Group Category" to "Public category":
| Sr. No. | Name | Number of Shares | % to Paid-up Capital |
|---|---|---|---|
| 1 | Mahesh Chand Mittal | 0 | 0.00 |
| 2 | Nishant Mittal | 0 | 0.00 |
| 3 | Satya Prakash Mittal | 92 | Negligible |
| 4 | Suman Mittal | 0 | 0.00 |
| 5 | Rashi Mittal | 0 | 0.00 |
| 6 | Mahesh Chand Mittal HUF | 0 | 0.00 |
| Total | 92 | 0.00% |
Shareholding Impact
The reclassified promoters collectively hold only 92 shares, which represents a negligible percentage of the company's total paid-up capital. Notably, five of the six reclassified promoters hold zero shares, with only Satya Prakash Mittal holding the entire 92 shares among this group.
Regulatory Compliance
The BSE has emphasized that the company must ensure compliance with subsequent relevant disclosures of material events related to this reclassification, in accordance with the applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015. The approval letter was signed by Jayshree Soni, Deputy Vice President, Listing Compliance, and Krishna Rathi, Deputy Manager, Listing Compliance.
Company Communication
Space Incubatrics Technologies formally communicated this development to BSE on April 11, 2026, through a letter signed by Umesh Kumar, Director (DIN: 07015921). The company has requested BSE to take this reclassification on record and has attached the approval letter for reference. Copies of the communication have also been sent to National Securities Depository Limited and Central Depository Services Limited.
Historical Stock Returns for Space Incubatrics Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.56% | -10.53% | -19.05% | -10.53% | -5.56% | +88.89% |
Will the remaining promoters increase their shareholding to maintain control following this reclassification?
How might this promoter reclassification affect Space Incubatrics' eligibility for institutional investment or index inclusion?
Could this corporate restructuring signal preparation for a potential merger, acquisition, or strategic partnership?
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