Eimco Elecon (India) Limited , a prominent player in the Indian manufacturing sector, has successfully completed the reclassification of Tamrock Great Britain Holdings Limited from the 'Promoter Group' category to 'Public' shareholder status. The company has now formalized this transition with comprehensive documentation and updated shareholding patterns.

Reclassification Documentation

The company has officially documented the reclassification process through detailed annexures that confirm Tamrock Great Britain Holdings Limited's transition. The entity, which previously held promoter group status, now maintains zero shareholding in the company following its complete divestment through an Offer for Sale mechanism conducted on September 24 and 25.

Updated Promoter Group Structure

Following the reclassification, the company's promoter and promoter group structure has been formally updated. The current promoter group maintains a collective shareholding of 28,23,920 equity shares, representing 48.96% of the company's total issued and paid-up equity share capital.

Regulatory Compliance Framework

The reclassification has been processed in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's board had previously approved this reclassification request after considering Tamrock's justifications, including no board representation, no management participation, and absence of special rights.

Corporate Governance Impact

This development represents the successful completion of a significant corporate restructuring initiative. The formalization of Tamrock's reclassification through proper documentation ensures transparency in the company's ownership structure while maintaining compliance with regulatory requirements. The updated shareholding pattern reflects the company's commitment to maintaining accurate records of its ownership structure post-reclassification.

The completion of this process marks an important milestone in Eimco Elecon's corporate governance framework, demonstrating the company's adherence to regulatory protocols while managing significant shareholding transitions.

Eimco Elecon (India) Limited , a prominent player in the Indian manufacturing sector, has undergone a significant change in its shareholding structure. Tamrock Great Britain Holdings Limited, previously a major promoter group entity of the company, has completely divested its stake through a strategic sale on the stock exchanges.

Offer for Sale Details

The sale was executed through an offer for sale (OFS) mechanism on September 24 and 25, utilizing the designated window on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The transaction was structured to accommodate different investor categories:

• September 24: Reserved for non-retail investors
• September 25: Open to retail investors and non-retail investors with unallotted bids carried forward from the previous day

Transaction Specifics

Impact on Shareholding

Following this significant transaction:

• Tamrock Great Britain Holdings' shareholding in Eimco Elecon has reduced from 24.68% to nil
• The company's total equity share capital remains unchanged at 57,68,385 shares, valued at ₹5,76,83,850.00

This divestment marks a notable shift in Eimco Elecon's ownership structure, potentially influencing the company's strategic direction and governance. Market participants and stakeholders will likely be keen to observe any subsequent changes in the company's operations or management approach following this exit by a major promoter entity.

The successful execution of this large block sale through the exchange mechanism demonstrates the liquidity and efficiency of Indian stock markets in handling significant ownership transitions. It also highlights the continued interest in Eimco Elecon's equity, as the substantial stake found buyers through the structured OFS process.

Investors and analysts may want to monitor any forthcoming announcements from Eimco Elecon regarding potential changes in board composition or strategic initiatives that might follow this significant shareholding change.