News Corporate Actions Ugar Sugar Works Limited Receives Approval for Promoter Reclassification from NSE and BSEUgar Sugar Works Limited Receives Approval for Promoter Reclassification from NSE and BSE
The Ugar Sugar Works Limited has secured regulatory approval from NSE and BSE for reclassifying two promoter entities to public shareholders under SEBI Regulation 31A. The reclassification involves 30,98,680 shares representing 2.76% shareholding, which will reduce overall promoter holding from 46.75% to 43.99% while increasing public shareholding to 56.01%.
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Ugar sugar works Limited has received regulatory approval from both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for the reclassification of promoters under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The approval letters were issued on February 03, 2026, marking a significant corporate restructuring development for the sugar manufacturing company.
Regulatory Approval Details
The NSE approval, referenced as NSE/LIST/401, and the BSE approval under reference LIST/COMP/SJ/698/2025-26, both granted permission for the reclassification of specific promoter entities to public shareholder status. The applications were processed based on submissions made by the company, with BSE noting that the original application was received on August 10, 2024.
Promoters Being Reclassified
The approval covers the reclassification of two promoter entities from the promoter category to public shareholders:
| Sr. No. | Name of Outgoing Promoter | No. of Shares | % Shareholding |
|---|---|---|---|
| 1 | Babasaheb Neelkanth Kalyani | 15,83,880 | 1.41% |
| 2 | Sunita Babasaheb Kalyani | 15,14,800 | 1.35% |
| Total | 30,98,680 | 2.76% |
Impact on Shareholding Structure
The reclassification will result in a notable shift in the company's shareholding pattern. The BSE approval letter provided a comprehensive breakdown of the shareholding changes:
| Category | Promoter Holding | Public Holding | ||
|---|---|---|---|---|
| Shares Held | Percentage | Shares Held | Percentage | |
| Pre-Reclassification | 5,25,95,568 | 46.75% | 5,99,04,432 | 53.25% |
| Post-Reclassification | 4,94,96,888 | 43.99% | 6,30,03,112 | 56.01% |
This reclassification will reduce the promoter holding by 2.76 percentage points while correspondingly increasing the public shareholding, enhancing the company's public float.
Compliance and Disclosure Requirements
Both exchanges have mandated that the company ensure proper disclosure of this reclassification event as a material event in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The approval letters have been forwarded to the depositories - National Securities Depository Limited and Central Depository Services Limited - as well as the company's Registrar and Transfer Agent for necessary action.
Company Communication
The approval was communicated to the exchanges by Tushar Deshpande, Company Secretary and Compliance Officer of The Ugar Sugar Works Limited, through a formal submission dated February 04, 2026. The company, which operates from Ugar Khurd in Karnataka and has its registered office in Sangli, Maharashtra, maintains its listing status with proper regulatory compliance.
Historical Stock Returns for Ugar Sugar Works
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.95% | -4.10% | -5.27% | -15.27% | -29.97% | +118.28% |
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