CG Power & Industrial Solutions has received multiple requests for reclassification from promoter group entities seeking to move to the public category. The latest development involves Algavista Greentech Private Limited (AGPL), which has formally requested reclassification following changes in its ownership structure.

Latest Reclassification Request from AGPL

On 18th December 2025, CG Power received a formal request from Algavista Greentech Private Limited seeking reclassification from promoter and promoter group category to public category shareholders. This request follows a significant change in AGPL's ownership structure, where E.I.D.-Parry (India) Limited reduced its stake in AGPL from 50% to 0% through a sale to its joint venture partner, Synthite Industries Private Limited.

Previous Reclassification Request from CECL

Earlier, CG Power had received a similar request from Coromandel Engineering Company Limited (CECL) for reclassification from promoter and promoter group to public category. This request followed CECL's complete divestment of its shareholding through a Share Purchase Agreement executed on 29th September 2023, resulting in a change of control on 29th December 2023.

Regulatory Compliance and Confirmations

Both entities have provided confirmations in compliance with Regulation 31A(3)(b) of the SEBI Listing Regulations, stating that they:

• Do not hold more than 10% of total voting rights in CG Power
• Do not exercise control over CG Power's affairs directly or indirectly
• Have no special rights through formal or informal arrangements
• Have no representation on CG Power's Board of Directors
• Do not act as key managerial personnel
• Are not classified as wilful defaulters or fugitive economic offenders

Processing Timeline and Next Steps

Both reclassification requests will be placed before CG Power's Board of Directors for approval as stipulated under Regulation 31A(3) of the SEBI Listing Regulations. Upon board approval, the company will submit applications seeking no-objection from the National Stock Exchange of India Limited and BSE Limited for the reclassifications.

Trading Window Status

CG Power has announced the closure of its trading window from 30th September 2025, which will remain closed until 48 hours after the publication of unaudited financial results for the quarter and half-year ending 30th September 2025. This closure complies with SEBI regulations and the company's Code on Insider Trading.

These developments reflect the evolving ownership structure of CG Power as former promoter group entities seek reclassification following their complete divestment from the company.

CG Power & Industrial Solutions has reportedly entered into preliminary discussions with Apple regarding the assembly and packaging of iPhone components in India. The exploratory conversations mark a potential significant development for the electrical equipment manufacturer as it seeks to diversify its business operations.

Preliminary Discussions with Apple

According to reports, Apple has initiated talks with Indian chip manufacturers, including CG Power & Industrial Solutions, to explore opportunities for assembling and packaging iPhone components locally. These discussions are part of Apple's broader strategy to expand its manufacturing footprint in India and reduce dependence on other markets.

The conversations are described as exploratory in nature, indicating that both companies are in the early stages of evaluating the potential partnership. The discussions focus on CG Power's capabilities to handle the technical requirements for iPhone component assembly and packaging.

Strategic Implications

For CG Power & Industrial Solutions, these preliminary talks represent a potential entry point into the consumer electronics manufacturing sector. The company, which primarily operates in the electrical equipment and power solutions segment, could leverage this opportunity to expand its technological capabilities and client base.

The potential collaboration aligns with Apple's ongoing efforts to strengthen its supply chain presence in India, following the success of iPhone assembly operations by other manufacturers in the country. If the discussions progress favorably, CG Power could become part of Apple's expanding ecosystem of Indian suppliers.

Current Status

The talks remain in the preliminary stage, with no definitive agreements or commitments announced by either party. The exploratory nature of these conversations suggests that both companies are assessing technical feasibility, capacity requirements, and commercial viability before proceeding to more formal negotiations.

If successful, this potential partnership could mark CG Power's entry into Apple's supply chain, potentially opening up new avenues for growth and diversification for the Indian company.