IEL Limited has received formal requests from three promoters seeking reclassification from the 'Promoter and Promoter Group' category to the 'Public' category under SEBI regulations. The company informed BSE Limited about these material developments on January 13, 2026, in compliance with regulatory requirements.

Promoter Reclassification Details

The company received request letters dated January 13, 2026, from three individuals currently classified as promoters. All three promoters seeking reclassification currently hold no equity shares in the company.

Reasons for Reclassification

The promoters cited several key reasons for seeking reclassification to public category:

• Operational Disengagement: Not involved in business operations, corporate actions, or day-to-day affairs of the company
• No Special Rights: Absence of special rights to appoint directors or participate in business affairs
• No Management Control: Not controlling company management or engaged in key policy decisions
• Independence from Board: No connection or influence over current Board of Directors and management decisions

Regulatory Compliance Commitments

Each promoter has provided comprehensive undertakings under Regulation 31A of SEBI (LODR) Regulations, 2015, confirming they will:

• Not hold more than 10.00% of total voting rights together with related persons
• Not exercise direct or indirect control over company affairs
• Not maintain special rights through formal or informal arrangements
• Not seek Board representation or nominee director positions
• Not act as Key Managerial Personnel
• Maintain compliance with regulatory conditions for minimum three years post-reclassification

Next Steps and Board Consideration

The requests will be considered by the Board of Directors of IEL Limited. The company will seek all appropriate approvals as mandated under Regulation 31A of SEBI (LODR) Regulations, 2015. This intimation has been filed as a material event disclosure with BSE Limited, where the company's equity shares are listed under scrip code 524614.

The reclassification process involves comprehensive regulatory scrutiny to ensure compliance with all applicable SEBI guidelines and listing obligations.

Rajveer Singh and Associates Acquire Additional Shares in IEL Limited

Rajveer Singh, along with Persons Acting in Concert (PAC) members Garima Venture Finance Limited and Dineshsingh Umashankarsingh Kshatriya, have increased their stake in IEL Limited through an open market purchase on the Bombay Stock Exchange (BSE).

Key Details of the Transaction

The acquisition of 40,000 equity shares has resulted in an increase in the group's collective holding in IEL Limited. This move signifies a strengthening of their position within the company's ownership structure.

Implications

The increased stake by Rajveer Singh and associates may be viewed as a sign of confidence in IEL Limited's prospects. Such transactions often attract attention from other investors and market analysts, as they can potentially influence the company's future direction and governance.

It's important to note that this transaction has been carried out through the open market, adhering to regulatory norms for transparency in stock acquisitions. Shareholders and potential investors may want to keep an eye on any further developments or announcements from the company or the acquiring group.

As always, investors are advised to conduct their own research and consider their investment goals before making any decisions based on this information.