Tube Investments of India Limited has successfully obtained regulatory approvals from both major Indian stock exchanges for a significant promoter group reclassification. The company announced on March 24, 2026, that it has received no-objection letters from the National Stock Exchange of India Limited (NSE) and BSE Limited for reclassifying Algavista Greentech Private Limited from the promoter group category to the public category.

Regulatory Approval Details

The reclassification approval was granted under Regulation 31A of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. Both exchanges issued their respective no-objection letters on March 24, 2026, following the company's application submitted on February 05, 2026.

Entity Being Reclassified

The reclassification specifically involves Algavista Greentech Private Limited, which will transition from the "Promoter and Promoter Group Category" to the "Public Category." This change represents a fundamental shift in the entity's classification within the company's shareholding structure.

Exchange Communications

The NSE approval was communicated by Apeksha Raichura, Manager – Listing Compliance, while the BSE approval was signed by Jayshree Soni, Deputy Vice President - Listing Compliance, and Krishna Rathi, Deputy Manager- Listing Compliance. Both exchanges emphasized the company's obligation to ensure compliance with subsequent relevant disclosures of material events related to this reclassification.

Compliance Requirements

Following the approval, Tube Investments of India Limited is required to maintain compliance with all applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015. The company must ensure proper disclosure of any material events related to this reclassification in accordance with regulatory requirements. The approval letters from both exchanges have been enclosed with the company's disclosure for stakeholder information and records.

Tube Investments of India Limited has successfully concluded its postal ballot process with shareholders overwhelmingly approving the reappointment of two independent directors for second terms. The company announced the results on March 20, 2026, following the completion of remote e-voting that concluded on March 19, 2026.

Postal Ballot Participation and Process

The postal ballot process witnessed participation from 1012 shareholders out of a total shareholder base of 116733. The remote e-voting facility was available from February 18, 2026 (9:00 a.m. IST) to March 19, 2026 (5:00 p.m. IST), covering a total of 193519670 shares.

Director Reappointment Results

Mr. Anand Kumar (DIN: 00818724)

Shareholders approved Mr. Anand Kumar's reappointment as Independent Director with strong support. His second term will span five consecutive years from March 24, 2026 to March 23, 2031.

Mr. V S Radhakrishnan (DIN: 08064705)

Mr. V S Radhakrishnan received even stronger shareholder support for his reappointment. His second term as Independent Director will run from July 5, 2026 to July 4, 2031.

Regulatory Compliance and Oversight

The postal ballot process was conducted in accordance with the Companies Act, 2013 and Ministry of Corporate Affairs circulars. Mr. R. Sridharan of M/s. R. Sridharan & Associates, Practicing Company Secretaries, served as the appointed scrutinizer for the process.

Key compliance measures included:

• Notice dispatch on February 16, 2026 through electronic mode
• Cut-off date set as February 13, 2026
• Advertisement publication in "Business Standard" (English) and "Makkal Kural" (Tamil) on February 17, 2026
• Results hosting on company website and NSDL platform

Official Documentation and Reporting

The company has formally communicated the postal ballot outcome to both NSE and BSE through official correspondence dated March 20, 2026. Company Secretary S Krithika signed the notification letters, confirming compliance with all statutory requirements.

Both resolutions qualified as special resolutions under the Companies Act, 2013, requiring approval from shareholders holding not less than three times the number of votes cast against the resolution. The scrutinizer confirmed that both resolutions were passed with the requisite majority, meeting all statutory requirements for the reappointment of independent directors. The results have been made available on the company's website and NSDL's e-voting platform as per regulatory guidelines.