Pratik Panels Limited has received formal approval from BSE Limited for the reclassification of two promoters from the 'Promoter and Promoter Group' category to the 'Public' category. The approval, dated January 6, 2026, marks the completion of a regulatory process that began with the company's board approval in November 2025.

BSE Approval Details

The exchange has granted no-objection for the reclassification under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The approval covers the following individuals:

The approval letter, signed by Shyam Bhagirath (Manager, Listing Compliance) and Krishna Rathi (Deputy Manager, Listing Compliance), requires the company to ensure compliance with subsequent relevant disclosures of material events related to this reclassification.

Background of Reclassification

The reclassification process was initiated following a request letter received from the promoters on November 10, 2025. The Board of Directors had approved the reclassification during their meeting on November 14, 2025. Key factors supporting the reclassification included:

• Both promoters currently hold no shares in the company
• The promoters have confirmed they have no direct or indirect control over the company's affairs or decision-making processes
• Neither holds any positions as Directors or Key Managerial Personnel (KMP) in the company

Regulatory Timeline

The reclassification process followed a structured timeline:

Financial Results Approval

During the November 14, 2025 board meeting, the company also approved its financial documents for the quarter and half-year ended September 30, 2025, including IND-AS compliant Standalone Un-Audited Financial Results along with Limited Review Report and Cash Flow Statement.

The completion of this reclassification process represents a significant milestone in the company's corporate governance structure, formally recognizing the change in promoter status that reflects their current non-involvement in company operations and zero shareholding position.

Pratik Panels Limited , a company listed on the Bombay Stock Exchange (BSE: 526490), has received requests from its promoters to reclassify their shareholding status. The news comes as part of the company's ongoing corporate governance efforts and compliance with regulatory requirements.

Key Details of the Reclassification Request

• Requesting Parties: Mr. Pankaj Mishra and Mrs. Devyani Mishra
• Current Category: Promoter and Promoter Group
• Requested Category: Public
• Regulatory Framework: Regulation 31A of SEBI (LODR) Regulations, 2015

Promoters' Current Stake

Reasons for Reclassification

The promoters have stated that they:

1. Hold 0% equity share capital and voting rights in the company
2. Do not exercise any control over the company's affairs
3. Are not involved in the day-to-day management of the company

Next Steps

• The reclassification request will be placed before the Board of Directors in its forthcoming meeting
• The Board's approval will be subject to further approval from the Stock Exchanges, as per SEBI regulations

Upcoming Board Meeting

Pratik Panels Limited has also announced a Board Meeting scheduled for November 14, 2025, to discuss the following agenda:

1. Approval of Un-Audited Financial Results for Q2 FY2026 (ended September 30, 2025)
2. Review of the reclassification request from Mr. Pankaj Mishra and Mrs. Devyani Mishra

This move towards reclassification reflects the changing dynamics within the company's ownership structure. It's important to note that such reclassifications are subject to regulatory scrutiny to ensure transparency and protect the interests of all shareholders.

Investors and market participants may be watching for the outcome of the Board meeting and any subsequent decisions regarding the reclassification request.