Indosolar Limited Seeks Reclassification of Five Shareholders from Promoter to Public Category

1 min read Updated on 11 Nov 2025, 02:09 AM

Reviewed by

Riya DScanX News Team

Overview

Indosolar Limited has applied to reclassify five shareholders from 'Promoter and Promoter Group' to 'Public' category on both BSE and NSE. This action follows an NCLT order dated April 21, 2022. The affected shareholders include Hulas Rahul Gupta, Bhushan Kumar Gupta, Priyadesh Gupta, Abha Gupta, and Greenlite Lighting Corporation. The application was submitted on June 7, 2023, under SEBI Regulations 30 and 31A.

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Indosolar Limited , a company listed on both the BSE and National Stock Exchange (NSE), has taken a significant step in restructuring its shareholder categories. The company has filed an application with both stock exchanges to reclassify five shareholders from the 'Promoter and Promoter Group' category to the 'Public' category.

Shareholders Affected

The reclassification request involves the following individuals and entity:

Sr. No.	Shareholder Name
1	Hulas Rahul Gupta
2	Bhushan Kumar Gupta
3	Priyadesh Gupta
4	Abha Gupta
5	Greenlite Lighting Corporation

Background and Timeline

This move comes as a result of an order from the National Company Law Tribunal (NCLT) dated April 21, 2022. The application for reclassification was submitted to both the BSE Limited and the National Stock Exchange of India Limited on June 7, 2023.

Regulatory Context

The reclassification is being pursued under Regulations 30 and 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. It's worth noting that while the company believes this disclosure may not be necessary under Regulation 31A(9) of the Listing Regulations—as the reclassification stems from an approved resolution plan via the NCLT order—Indosolar Limited has chosen to file this disclosure following discussions with the stock exchanges.

Company Details

Indosolar Limited is registered at Unit No. 301, 3rd floor, Building 02, Southern Park, Saket, New Delhi-110017, with its factory located at 3C/1eco Tech -11, Udyog Vihar, Greater Noida – 201306, Uttar Pradesh, India.

This corporate action represents a significant change in the company's shareholding structure and could have implications for the company's governance and public perception.

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