In a significant corporate action, Himgiri Castings Private Limited, along with persons acting in concert, has successfully acquired a 34.04% stake in National Fittings Limited (NFL). This acquisition, completed on October 23, 2025, marks a substantial change in the ownership structure of the company.

Acquisition Details

The stake acquisition involved multiple parties purchasing shares from the promoter, A V Palanismamy. The breakdown of the acquisition is as follows:

Open Offer and Regulatory Compliance

Prior to this acquisition, the acquirers had completed an open offer on October 13, 2025, which was duly communicated to the Bombay Stock Exchange (BSE) on October 15, 2025. This sequence of events demonstrates compliance with regulatory requirements for such significant stake changes.

Changes in Board Composition

Following the stake acquisition, National Fittings Limited has undergone changes in its board composition and committee structures. As per the company's intimation to BSE on October 24, 2025:

1. Mr. A V Palaniswamy and Mrs. Panath Anitha have resigned from their positions.
2. Mr. Anil Kumar Agarwal and Mr. Arpit Agarwal have been appointed to the board.

Reconstitution of Board Committees

The company has also reconstituted its key committees:

Audit Committee

• Mrs. Susheela Balakrishnan (Chairman, Independent)
• Mr. Chenniappan Selvakaumar (Member)
• Mr. Arpit Agarwal (Member)

Shareholders Relationship Committee

• Mr. Chenniappan Selvakaumar (Chairman, Independent)
• Mr. Jayaram Govindarajan (Member)
• Mr. Anil Kumar Agarwal (Member)

Nomination & Remuneration Committee

• Mr. Chenniappan Selvakaumar (Chairman, Independent/Non-Executive)
• Mrs. Susheela Balakrishnan (Member, Independent/Non-Executive)
• Mr. Anil Kumar Agarwal (Member, Non-Executive)

These changes in ownership and management structure may signal a new direction for National Fittings Limited. Stakeholders and market observers will likely be watching closely to see how these developments impact the company's future strategies and performance.

National Fittings Limited , a company listed on the Bombay Stock Exchange (BSE), has announced a significant change in its shareholding structure. The company's promoter, A V Palaniswamy, has requested reclassification from the 'promoter' category to the 'public' category of shareholders.

Key Details of the Reclassification Request

Conditions and Next Steps

The Board of Directors has approved the reclassification request, subject to two primary conditions:

1. Share Transfer: The reclassification is contingent upon the transfer of shares from A V Palaniswamy to Himgiri Castings Private Limited, along with Persons Acting in Concert.

2. Regulatory Approvals: The reclassification requires approval from the company's shareholders and a no-objection from the BSE.

Timeline and Delays

• The share transfer process was initiated on October 17, 2025.
• However, the transfer has faced delays due to the intervening Diwali holidays.

Regulatory Compliance

National Fittings Limited has emphasized that this reclassification request is in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. The company has duly informed the BSE about this development, adhering to Regulation 31A(8) of the SEBI LODR Regulations.

Implications

This reclassification, if approved, could potentially alter the company's shareholding structure and might have implications for corporate governance and control. Shareholders and market participants will likely be watching closely for the outcomes of the shareholder vote and the BSE's response.

Investors and stakeholders are advised to keep an eye on further announcements from National Fittings Limited regarding the progress of this reclassification request.