Chordia Food Products Limited , a prominent player in the food industry, has recently received approval from the Bombay Stock Exchange (BSE) for a significant change in its shareholding structure. The company has successfully reclassified five individuals from the Promoter/Promoter Group category to the Public category, reshaping its ownership landscape.

Reclassification Details

The BSE granted approval on July 23, 2025, for the reclassification of the following individuals:

1. Rajkumar Hukmichand Chordia
2. Madhubala Rajkumar Chordia
3. Vishal Rajkumar Chordia
4. Shweta Vishal Chordia
5. Anand Rajkumar Chordia

This reclassification marks a notable shift in the company's shareholding pattern. Following the change, the updated shareholding structure stands as follows:

It's worth noting that all five reclassified individuals now hold zero shares in the company, as per the BSE approval letter.

Application Timeline and Regulatory Compliance

Chordia Food Products Limited had initially applied for this reclassification in October 2023. However, the company faced a setback in terms of regulatory compliance. The BSE, while granting approval, also issued a warning letter to the company for non-compliance with disclosure requirements.

Regulatory Warning

The warning letter from BSE highlighted a significant delay in disclosure. According to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, companies are required to disclose such applications within 24 hours of submission. Chordia Food Products submitted the application on October 23, 2023, but only made the disclosure on February 28, 2024, nearly four months later.

The BSE emphasized the seriousness of this non-compliance and advised the company to:

1. Exercise due caution in the future
2. Initiate corrective steps to prevent recurrence of such lapses
3. Ensure timely compliance with Exchange circulars and communications

The stock exchange also mandated that the company disseminate the warning letter on all stock exchanges where it is listed and present it to their Board of Directors along with the corrective measures taken.

This development underscores the importance of timely disclosures and regulatory compliance in the corporate world, even as companies undergo significant structural changes.

Investors and market watchers will likely keep a close eye on Chordia Food Products Limited as it moves forward with its new shareholding structure, balancing growth strategies with regulatory obligations.

Chordia Food Products Limited , a prominent player in the food industry, has recently received approval from the Bombay Stock Exchange (BSE) for a significant change in its shareholding structure. The company has successfully reclassified five individuals from the Promoter/Promoter Group category to the Public category, reshaping its ownership landscape.

Reclassification Details

The BSE granted approval on July 23, 2025, for the reclassification of the following individuals:

1. Rajkumar Hukmichand Chordia
2. Madhubala Rajkumar Chordia
3. Vishal Rajkumar Chordia
4. Shweta Vishal Chordia
5. Anand Rajkumar Chordia

This move comes in response to Chordia Food Products' application submitted on October 23, 2023, seeking reclassification under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Revised Shareholding Structure

Following the reclassification, the company's shareholding structure has been updated as follows:

It's worth noting that the outgoing promoters now hold zero shares after the reclassification, as confirmed in the BSE approval letter.

Regulatory Compliance and Warning

While the BSE has approved the reclassification, it has also issued a warning letter to Chordia Food Products Limited for non-compliance with disclosure requirements. The company had submitted its reclassification application on October 23, 2023, but only made the required disclosure on February 28, 2024. This delay violated the 24-hour disclosure requirement under SEBI regulations, specifically Regulation 31A(8)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The BSE has advised the company to exercise due caution and implement corrective measures to prevent such lapses in the future. Chordia Food Products is required to disseminate the warning letter on the stock exchanges where it is listed and present it to their Board of Directors along with the corrective actions taken.

Implications and Next Steps

This reclassification marks a significant shift in Chordia Food Products' ownership structure, potentially impacting the company's governance and decision-making processes. The company will need to ensure strict compliance with regulatory requirements going forward to maintain investor confidence and avoid further regulatory actions.

Investors and market watchers will likely keep a close eye on how this change in shareholding structure might influence the company's strategic direction and performance in the coming months.