CG Power & Industrial Solutions , a prominent player in the power and industrial equipment sector, has taken a significant step in restructuring its promoter group. The company has formally applied to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for a no-objection to declassify two entities from its promoter group category.

Entities Involved

The two entities under consideration for declassification are:

1. Yantra Coromandel Agrisolutions Private Limited
2. Coromandel Engineering Company Limited

Current Shareholding Status

It's noteworthy that both entities currently hold no shares in CG Power & Industrial Solutions. This is clearly illustrated in the following table:

Regulatory Compliance

The company's move aligns with its earlier disclosures regarding the re-classification of these promoter group members. This declassification request is being made in accordance with Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Regulations.

Timeline of Events

According to the LODR data:

• CG Power made initial disclosures regarding the re-classification of these entities.
• The company formally applied to the stock exchanges for their no-objection to the declassification.

Implications

This corporate action, if approved, would result in the removal of Yantra Coromandel Agrisolutions Private Limited and Coromandel Engineering Company Limited from CG Power's promoter group. Such changes in promoter group composition can be significant for investors and market watchers, as they may reflect shifts in the company's ownership structure and control.

The stock exchanges will review the application, and their decision will be crucial for the completion of this corporate restructuring process. Investors and stakeholders of CG Power & Industrial Solutions should keep an eye out for further updates on this matter.

In a significant development for India's semiconductor industry, Ashwani Vaishnaw has announced the commencement of semiconductor production at manufacturing facilities operated by Kaynes and CG Power & Industrial Solutions . This marks a crucial milestone in the country's push towards self-reliance in semiconductor manufacturing.

Key Highlights

• Semiconductor production has begun at Kaynes and CG Power & Industrial Solutions manufacturing plants
• The announcement was made by Ashwani Vaishnaw, likely in his capacity as a government official
• This development signifies progress in India's semiconductor manufacturing capabilities

Industry Implications

The start of semiconductor production at these facilities could have far-reaching implications for India's technology sector. Semiconductors are critical components in various electronic devices, and domestic production could potentially:

• Reduce dependency on imports
• Strengthen the local supply chain
• Boost India's position in the global semiconductor market

Company Profiles

While specific details about the scale of production or the types of semiconductors being manufactured are not provided in the announcement, the commencement of operations at both Kaynes and CG Power & Industrial Solutions plants suggests a coordinated effort to bolster India's semiconductor manufacturing capabilities.

As the semiconductor industry continues to evolve globally, this development could potentially position India as a key player in the sector. However, it's important to note that building a robust semiconductor ecosystem requires sustained effort, investment, and technological advancement.

Stakeholders in the technology and manufacturing sectors will likely be watching closely to see how this initiative progresses and what impact it may have on the broader Indian and global semiconductor landscape.