iStreet Network Limited has formally submitted an application to the Bombay Stock Exchange (BSE) for reclassifying certain promoter shareholdings under SEBI regulations. The company filed the application on February 05, 2026, seeking to reclassify five shareholders from the "Promoter/Promoter Group" category to the "Public" category.

Regulatory Compliance and Application Details

The application has been submitted in accordance with Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation provides a framework for promoters to reclassify their shareholding from the promoter category to the public category under specific conditions and procedures.

Shareholding Details for Reclassification

The reclassification application covers five shareholders with varying stake sizes:

The largest individual holding among the five shareholders belongs to Meenu Malu with 4,15,500 shares (1.95%), while Meethu Malu holds the smallest stake with 2,00,000 shares (0.94%).

Corporate Governance Implications

The reclassification of these shareholdings will result in a reduction of the promoter and promoter group shareholding by 6.30%. This move aligns with regulatory requirements and corporate governance practices that encourage broader public participation in listed companies. The application specifically targets one promoter and four promoter group members for reclassification.

Company Information and Next Steps

The application was signed by Pratibha Ranka, Company Secretary and Compliance Officer of iStreet Network Limited. The company, incorporated under the identifier L62013MH1986PLC040232, is headquartered at Unit No. A-2, 2nd Floor, D J House, Old Nagardas Road, Andheri East, Mumbai - 400069. The BSE will now review the application as per the prescribed regulatory procedures under SEBI regulations.

iStreet Network Limited announced that its Board of Directors has approved a comprehensive share consolidation plan during their meeting held on December 11, 2025. The consolidation proposal involves converting existing equity shares with a face value of ₹4.00 each to equity shares with a face value of ₹10.00 each, subject to approvals from BSE, other regulatory authorities, and the company's shareholders.

Share Consolidation Details

The consolidation will follow a specific ratio structure designed to maintain shareholder value while restructuring the capital base. Under the approved plan, every 5 existing equity shares of ₹4.00 face value will be consolidated into 2 equity shares of ₹10.00 face value, pursuant to Section 61(1)(b) of the Companies Act, 2013.

Capital Structure Impact

The consolidation will significantly alter the company's share count structure while maintaining the same monetary value of capital. The number of authorized shares will decrease from 20.00 crores to 8.00 crores, while paid-up shares will reduce from 6.65 crores to 2.66 crores post-consolidation.

Strategic Rationale

The company outlined several strategic objectives behind the consolidation decision. The management believes this restructuring will align the company with established industry standards and enhance capital structure stability and corporate discipline. The consolidation is expected to improve institutional readiness and reduce volatility while laying a strong foundation for future expansion.

Additional benefits cited include:

• Enhanced ability to attract institutional investors through a more traditional capital structure
• Increased prospects for future FI/DI/HNI placements
• Reduction in overhead costs associated with servicing fragmented shareholders
• Creation of a more serious and long-term investor base
• Greater flexibility in long-term planning and smoother scope for future bonus issues, stock splits, and ESOP structuring

Implementation Timeline

The company expects to complete the share consolidation process within 3 months, subject to timely receipt of regulatory approvals. The consolidation affects only one class of shares - equity shares without differential rights. The final determination of shareholders who may not receive shares in the consolidation will be decided based on the record date to be announced later.

The proposal requires approval from BSE, other requisite regulatory authorities, and the company's shareholders before implementation. Once approved, this consolidation will alter the capital clause of the company's Memorandum of Association accordingly.