EID Parry (India) Limited has successfully obtained approval from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for the declassification of two entities from its promoter group. This corporate action marks a significant change in the company's ownership structure.

Declassification Details

The two entities that have been declassified from EID Parry's promoter group are:

1. Coromandel Engineering Company Limited (CECL)
2. Yanmar Coromandel Agrisolutions Private Limited (YCAS)

Approval Process

The approval process for this declassification involved several steps:

Regulatory Compliance

The declassification was approved under Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The stock exchanges have issued their respective no-objection letters:

• BSE: Approval letter no. LIST/COMP/HG/518/2025-26
• NSE: Approval letter no. NSE/LIST/COMP/EIDPARRY/521/2025-2026

Implications and Next Steps

This declassification could potentially impact the company's ownership structure and voting rights. EID Parry is now required to ensure compliance with subsequent relevant disclosures of material events related to this reclassification, as mandated by the stock exchanges and in accordance with SEBI regulations.

Investors and stakeholders should note that this corporate action may have implications for the company's governance and ownership dynamics. However, the full impact of this change will become clearer as EID Parry makes further disclosures and as the market responds to this development.

Investors are advised to consider such corporate actions in the context of their overall investment strategy and to consult with financial advisors for personalized advice.

EID Parry (India) Limited, a prominent player in the Indian sugar industry, has taken a significant step in its corporate restructuring process. The company has applied to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) for the declassification of two entities from its promoter category.

Declassification Application Details

The two companies seeking declassification are:

1. Coromandel Engineering Company Limited (CECL)
2. Yanmar Coromandel Agrisolutions Private Limited (YCAS)

Both CECL and YCAS currently hold zero equity shares in EID Parry, making their declassification a logical step in streamlining the company's ownership structure.

Regulatory Compliance

The application for declassification has been made under Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations. EID Parry is seeking a 'no-objection' from the stock exchanges as part of this process.

Current Shareholding Status

The LODR document provides a clear picture of the current shareholding status of the entities seeking declassification:

This move by EID Parry appears to be part of a larger corporate restructuring process, aimed at simplifying its promoter structure. The declassification, if approved by the stock exchanges, would reflect the current ownership reality, as both companies no longer hold any shares in EID Parry.

Investors and market watchers will be keenly observing the outcome of this application, as it could potentially impact the company's shareholding pattern and governance structure. The stock exchanges' decision on this matter will be crucial for EID Parry's ongoing corporate restructuring efforts.