Maithan Alloys Promoter Group Members Request Reclassification to Public Category

Maithan Alloys Limited has received a formal request from four promoter group members seeking reclassification from "Promoter & Promoter Group Category" to "Public Category" under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company informed stock exchanges about this development on January 15, 2026, following receipt of the request letter dated January 13, 2026.

Shareholding Details of Requesting Members

The four promoter group members collectively hold a significant stake in the company. Their shareholding details as of January 13, 2026, are presented below:

Name:	Shares Held	Shareholding (%)
Mr. Prahlad Rai Agarwalla	6,93,635	2.38
Mrs. Sarita Devi Agarwalla	6,67,198	2.29
Mr. Avinash Agarwalla	19,525	0.07
Prahlad Rai Agarwalla HUF	1,07,668	0.37
Total	14,88,026	5.11

Regulatory Compliance and Certifications

The requesting promoter group members have provided comprehensive certifications to support their reclassification request. They have jointly and severally confirmed compliance with key regulatory requirements:

They do not hold more than ten percent of total voting rights in Maithan Alloys Limited
They do not exercise control over company affairs, directly or indirectly
They have no special rights through formal or informal arrangements including shareholder agreements
They are not represented on the Board of Directors as nominee directors
They do not act as Key Managerial Personnel of the company
They are not classified as 'willful defaulters' under RBI Guidelines
They are not fugitive economic offenders

Board Consideration and Next Steps

Maithan Alloys Limited has confirmed that the reclassification request will be considered by the Board of Directors at its next meeting. The company has fulfilled its disclosure obligations under Regulation 31A(8) of SEBI regulations by informing all relevant stock exchanges including National Stock Exchange, BSE Limited, and The Calcutta Stock Exchange Limited.

The requesting members have committed to continue complying with specified conditions under Regulation 31A(3) for at least three years from the date of reclassification. They have acknowledged that failure to maintain compliance would result in automatic reclassification back to "Promoter Group" category. The event was formally recorded on January 15, 2026, at 3:13 PM, marking the official receipt of the request letter by the company.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.80%	+11.01%	+18.59%	-2.46%	+12.19%	+66.70%

Equitas Small Finance Bank Limited has released its business update for the quarter ended December 31, 2025, showcasing robust growth across key financial metrics. The bank reported significant improvements in advances, deposits, and collection efficiency as part of its regulatory disclosure under SEBI regulations.

Financial Performance Overview

The bank demonstrated strong growth momentum with gross advances reaching ₹43,269 crores, marking a substantial 15.86% year-on-year increase and 10.60% quarter-on-quarter growth. Total deposits stood at ₹43,668 crores, reflecting a 7.24% year-on-year growth despite a marginal 0.97% quarterly decline.

Particulars	Dec 31, 2024	Sep 30, 2025	Dec 31, 2025	YoY %	QoQ %
Gross Advances	₹37,344 cr	₹39,123 cr	₹43,269 cr	15.86%	10.60%
Total Deposits	₹40,719 cr	₹44,094 cr	₹43,668 cr	7.24%	(0.97%)
CASA	₹11,649 cr	₹13,622 cr	₹12,886 cr	10.62%	(5.40%)
CASA Ratio	29%	31%	30%	-	-
Cost of Funds	7.49%	7.35%	7.13%	-	-

Segment-wise Performance Analysis

The bank's loan portfolio showed diversified growth with non-micro finance and micro loans segment contributing ₹38,110 crores, representing a 19.19% year-on-year increase. The micro finance and micro loans segment reached ₹5,159 crores, though it declined 3.93% year-on-year, it showed remarkable 51.94% quarter-on-quarter recovery.

Loan Category	Amount (₹ Crores)	YoY Growth	QoQ Growth
Non-Micro Finance & Micro Loans	38,110	19.19%	6.67%
Micro Finance & Micro Loans	5,159	(3.93%)	51.94%

Operational Efficiency Improvements

Equitas Small Finance Bank achieved significant operational improvements during the quarter. The bank completed robust disbursements of ₹6,557 crores, marking a 22% quarter-on-quarter and 28% year-on-year growth. The cost of funds improved to 7.13% from 7.35% in the previous quarter, indicating enhanced funding efficiency.

Asset Quality and Collection Performance

The bank demonstrated substantial improvement in asset quality metrics. The 1-90 DPD (Days Past Due) in the microfinance and micro loans segment consistently reduced from 8.45% in April 2025 to 2.77% in December 2025. Collection efficiency in the X bucket improved to 90.61% in December 2025.

Collection Metrics	Dec 2025 Performance
X Bucket Collection Efficiency	90.61%
1-90 DPD Amount	₹106 crores
1-90 DPD Percentage	2.77%
Overall Collection Efficiency (Q3FY26)	98.99%

Strategic Asset Management

During the quarter, the bank executed two strategic transactions involving non-performing assets sales to Asset Reconstruction Companies. The bank sold NPA assets worth approximately ₹55 crores and technical written-off assets worth ₹294 crores to ARCs, demonstrating proactive asset management.

Regional Performance and Risk Management

The Small Business Loan segment showed notable improvement, particularly in Karnataka, where net slippages reduced significantly to 4.61% in Q3FY26 from 8.19% in Q2FY26. The overall net slippages in the SBL segment improved to 1.47% in Q3FY26 from 2.48% in the previous quarter.