CG Power & Industrial Solutions (CG Power) has received a request from Coromandel Engineering Company Limited (CECL) for reclassification from 'promoter and promoter group' to 'public' category. This development comes in the wake of CECL's complete divestment of its shareholding in CG Power.

Key Points of the Reclassification Request

• Divestment Background: The request follows a Share Purchase Agreement (SPA) executed on 29th September 2023, through which CECL's entire shareholding in CG Power was divested.
• Change of Control: The divestment resulted in a change of control on 29th December 2023.
• Current Shareholding: CECL currently holds zero shares, representing 0.00% shareholding in CG Power.
• Request Letter: CG Power received the formal request letter on 26th September 2025.

Next Steps in the Reclassification Process

1. Board Consideration: The request will be placed before CG Power's Board of Directors for approval.
2. Stock Exchange Application: Upon board approval, CG Power will submit an application to the National Stock Exchange of India Limited (NSE) and BSE Limited seeking no-objection for the reclassification.

CECL's Confirmations

In compliance with Regulation 31A(3)(b) of the SEBI Listing Regulations, CECL has confirmed that:

• It does not hold more than 10% of the total voting rights in CG Power.
• It does not exercise control over the affairs of CG Power directly or indirectly.
• It has no special rights with respect to CG Power through formal or informal arrangements.
• It has no representation on the Board of Directors of CG Power.
• It does not act as a key managerial personnel in CG Power.
• It is not classified as a 'wilful defaulter' or categorized as a fugitive economic offender.

Implications for CG Power

This reclassification request, if approved, will alter CG Power's shareholding structure by reducing its promoter group category. The move reflects the changing ownership dynamics following the divestment by CECL.

Trading Window Closure

In a separate but related development, CG Power has announced the closure of its trading window from 30th September 2025. The window will remain closed until 48 hours after the publication of the company's unaudited financial results for the quarter and half-year ending 30th September 2025. This closure is in compliance with SEBI regulations and the company's Code on Insider Trading.

Investors and market participants are advised to take note of these developments as they may impact the company's shareholding structure and trading activities in the near term.

CG Power & Industrial Solutions (CG Power) has received a request from Yanmar Coromandel Agrisolutions Private Limited (YCAS) for reclassification from 'promoter and promoter group' to 'public' category. This development comes in the wake of significant changes in YCAS's shareholding structure.

Shareholding Changes Trigger Reclassification Request

The reclassification request follows a substantial alteration in YCAS's ownership composition. Coromandel International Limited's (CIL) stake in YCAS decreased from 40% to 10.60% due to a significant fund infusion by Yanmar Asia (Singapore) Corporation Pte. Ltd. (Yanmar Singapore). On September 27, 2024, Yanmar Singapore injected Rs. 149.72 crore into YCAS, leading to the allotment of 11,09,00,741 equity shares with a face value of Rs. 10.00 each.

Regulatory Implications

As a result of this transaction, YCAS no longer meets the criteria for classification as a promoter group under the Securities and Exchange Board of India (SEBI) regulations. According to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, an entity is considered part of the promoter group if it holds 20% or more of the equity share capital. With CIL's stake now below this threshold, YCAS falls outside this definition.

Current Shareholding and Control

It's noteworthy that YCAS currently holds zero shares in CG Power. In its request, YCAS has confirmed that it does not exercise any control over CG Power's affairs, lacks special rights or board representation, and has no access to price-sensitive information about the company.

Next Steps in the Reclassification Process

The reclassification request, dated September 16, 2025, will be presented to CG Power's Board of Directors for consideration, as mandated by Regulation 31A of the SEBI Listing Regulations. Following board approval, CG Power will submit an application to the National Stock Exchange of India Limited and BSE Limited, seeking their no-objection to the proposed reclassification.

Regulatory Compliance

In compliance with SEBI regulations, YCAS has provided necessary confirmations, including:

• Neither YCAS nor any related persons hold more than 10% of CG Power's total voting rights
• They do not exercise direct or indirect control over the company's affairs
• They have no special rights through formal or informal arrangements
• They are not represented on the board and do not act as key managerial personnel
• They are not classified as willful defaulters or fugitive economic offenders

Implications for CG Power

This reclassification, if approved, will alter CG Power's shareholding structure, potentially impacting the company's regulatory obligations and public perception. However, given YCAS's current zero shareholding in CG Power, the immediate practical impact on the company's operations is likely to be minimal.

The market will be watching closely as this reclassification process unfolds, particularly for any implications it may have on CG Power's governance structure and future strategic directions.