Diggi Multitrade Seeks Reclassification of Two Promoters to Public Category
Diggi Multitrade Ltd has applied to BSE Limited to reclassify Pradeepkumartana Jankiramulu Naidu and Sangeeta Hariprasad Naidu from 'Promoter Group' to 'Public' category. Both individuals currently hold zero shares. The company received board approval on September 4, 2024, and member approval on October 1, 2024. The application was submitted on October 29, 2024. Diggi Multitrade acknowledged a delay in disclosing the application as per SEBI regulations, attributing it to lack of awareness. The company has committed to strengthening its compliance framework to prevent future oversights.
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Diggi Multitrade Ltd has taken steps to reclassify two of its promoters from the 'Promoter Group' to the 'Public' category, as per a recent application submitted to the BSE Limited. The company is seeking approval for the reclassification of Pradeepkumartana Jankiramulu Naidu and Sangeeta Hariprasad Naidu, both of whom currently hold zero shares in the company.
Timeline of Events
- September 4, 2024: Board approval obtained for the reclassification
- October 1, 2024: Member approval secured
- October 29, 2024: Application submitted to BSE Limited
Reclassification Details
The reclassification request pertains to the following individuals:
| Name | Current Shares | Current Holding (%) |
|---|---|---|
| Pradeepkumartana Jankiramulu Naidu | 0 | 0.00% |
| Sangeeta Hariprasad Naidu | 0 | 0.00% |
Regulatory Compliance and Disclosure
Diggi Multitrade acknowledged a delay in disclosing the application as required under Regulation 31A(8)(c) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company attributed this oversight to a lack of awareness and understanding of the specific regulatory requirements.
In a statement, the company assured that the delayed disclosure was unintentional and confirmed that there was no mala-fide intention behind the non-disclosure. Diggi Multitrade emphasized that it had made timely disclosures under Regulation 31A(3)(a) & (b) of the SEBI regulations, communicating the reclassification request as a material event to shareholders.
Future Compliance Measures
To prevent similar oversights in the future, Diggi Multitrade has committed to strengthening its compliance framework. The company expressed regret for the delay and has requested the BSE to condone the oversight.
As the reclassification process moves forward, stakeholders and the public will be watching closely to see how this change might impact the company's ownership structure and governance. The BSE's decision on the application will be a crucial next step in this corporate action.
Historical Stock Returns for Diggi Multitrade
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | +5.48% | -8.30% | -0.56% | +83.59% |
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