Excel Industries Board Approves Promoter Group Reclassification for Malti Bhatia
Excel Industries Limited's Board of Directors has approved the reclassification request from promoter group member Malti D. Bhatia, who seeks to change her status to public shareholder under SEBI Regulation 31A. The board meeting held on February 3, 2026, confirmed that her application meets all regulatory requirements for the reclassification of her 1,04,082 equity shares representing 0.83% of the company's paid-up share capital, subject to stock exchange and regulatory approvals.
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Excel Industries Limited has received board approval for the reclassification of promoter group member Malti D. Bhatia to public shareholder status. The company's Board of Directors approved the request on February 3, 2026, following the initial application submitted on January 28, 2026.
Board Approval and Resolution
The Board of Directors at their meeting held on February 3, 2026, considered and approved Bhatia's reclassification request from promoter group category to public category. The approval is subject to consent from stock exchanges where the company's equity shares are listed - BSE and NSE - and any other required regulatory approvals.
| Parameter: | Details |
|---|---|
| Board Meeting Date: | February 3, 2026 |
| Application Date: | January 28, 2026 |
| Current Status: | Promoter Group Member |
| Requested Status: | Public Shareholder |
| Shareholding: | 1,04,082 equity shares |
| Ownership Percentage: | 0.83% of paid-up share capital |
| Approval Status: | Board Approved |
Regulatory Compliance Framework
The board confirmed that Bhatia's application complies with all requirements under Regulation 31A(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In her application, Bhatia provided comprehensive confirmations regarding regulatory compliance.
Key compliance confirmations include:
- Does not hold more than 10% of total voting rights
- Does not exercise control over company affairs directly or indirectly
- Has no special rights through formal or informal arrangements
- Not represented on the board of directors
- Does not act as key managerial person
- Not a wilful defaulter per RBI Guidelines
- Not a fugitive economic offender
Post-Reclassification Undertakings
Bhatia committed to ongoing compliance with SEBI regulations following reclassification. She undertook to continue complying with sub-clauses (i), (ii) and (iii) of Regulation 31A(3) at all times from the reclassification date.
| Commitment Type: | Duration |
|---|---|
| Sub-clauses (i), (ii), (iii) compliance: | At all times |
| Sub-clauses (iv), (v) compliance: | Minimum 3 years |
| Automatic reclassification trigger: | Upon violation of conditions |
The applicant also confirmed no pending regulatory action against her and accepted automatic reclassification as promoter group member if conditions are violated.
Stock Exchange Communication
Company Secretary S K Singhvi digitally signed the notification to BSE and NSE on February 3, 2026. The communication referenced BSE Scrip Code 500650 and NSE Scrip Code EXCELINDUS, informing stock exchanges of the board's decision and requesting their approval.
The company has made the board meeting extract and complete application available to stock exchanges for review. This information will also be made available on the company's website at www.excelind.co.in as part of standard disclosure requirements.
Historical Stock Returns for Excel Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.09% | +2.37% | +5.18% | -26.81% | +9.97% | +10.89% |
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