India Home Loans (IHLL) has received requests from two of its promoter shareholders, Mr. Ashok Shanabhai Patel and Mrs. Daksha Ashok Patel, to reclassify their status from 'Promoter Shareholder' to 'Public Shareholder' under SEBI regulations. This development marks a significant change in the company's shareholding structure and governance.

Key Points of the Reclassification Request

The promoters have cited several reasons for their reclassification request:

1. Current Shareholding: Both Mr. Ashok Shanabhai Patel and Mrs. Daksha Ashok Patel currently hold no equity shares in the company.
2. Control: They do not exercise any control over the affairs of the company.
3. Special Rights: The promoters have no special rights through formal or informal arrangements.
4. Board Representation: They do not have any representation on the board of directors.
5. Key Managerial Personnel: Neither are acting as key managerial personnel in the company.
6. Involvement: The promoters stated they have no role in the day-to-day affairs of the company.
7. Financial Interest: They cited having no pecuniary relationship or special rights with the company.

Corporate Action Timeline

Regulatory Context

The reclassification request falls under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation allows for the reclassification of the status of any person as a promoter/public, subject to specified conditions and board/shareholder approvals.

Next Steps

The Board of Directors of India Home Loan Limited will consider the reclassification requests in their upcoming board meeting. The outcome of this meeting will be crucial in determining the future status of Mr. Ashok Shanabhai Patel and Mrs. Daksha Ashok Patel within the company's shareholding structure.

This corporate action, if approved, could potentially impact the company's governance structure and public perception. Shareholders and potential investors should keep an eye on further developments and official announcements from the company regarding this matter.

India Home Loans has recently received a formal request from promoter shareholder Anant Arun Bhalotia to reclassify his status from 'Promoter Shareholder' to 'Public Shareholder'. This development comes as part of the company's ongoing corporate governance processes and adherence to SEBI regulations.

Key Details of the Reclassification Request

Mr. Bhalotia's request, dated October 18, 2025, cites several reasons for seeking reclassification:

Rationale and Compliance

Mr. Bhalotia emphasized that he has no role in the company's affairs and no pecuniary interest in India Home Loans. He has also committed to complying with the conditions set forth in Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which govern such reclassification requests.

Next Steps

The Board of Directors of India Home Loans is scheduled to consider this reclassification request in their upcoming board meeting. The company has duly informed the BSE Limited about this development, in line with regulatory requirements.

Implications

This reclassification, if approved, could potentially alter the company's shareholding structure and promoter group composition. However, given Mr. Bhalotia's current non-involvement and zero shareholding, the practical impact on the company's operations is likely to be minimal.

Investors and stakeholders of India Home Loans should note that this process is part of normal corporate governance procedures and does not necessarily indicate any significant change in the company's strategic direction or operational management.

The company will provide further updates on this matter following the board's decision, as required by SEBI regulations.