Looks Health Services Limited has taken a significant step in its corporate structure by applying for the reclassification of certain promoters to the public category. The company has submitted an application to the BSE (Bombay Stock Exchange) for this purpose, following internal approvals and requests from the promoters themselves.

Key Details of the Reclassification Application

Background and Process

The reclassification process was initiated following requests from Mr. Pritesh Doshi and Maxgainz Finserve Private Limited, both currently part of the promoter group. These entities expressed their desire to be reclassified under the public category of shareholders.

Corporate Governance Steps

1. Initial Request: The promoters submitted their reclassification request on November 20, 2025.
2. Board Approval: The company's Board of Directors approved the reclassification in a meeting held on December 01, 2025.
3. Formal Application: Looks Health Services Limited filed the application with BSE on December 03, 2025.

Regulatory Compliance

The company has emphasized that this reclassification application is in full accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation outlines the procedures and requirements for the reclassification of promoter shareholding in listed entities.

Implications and Next Steps

While the reclassification application has been submitted, it is important to note that the process is subject to approval from the BSE. Shareholders and investors should be aware that this corporate action, if approved, could potentially impact the shareholding structure of the company.

Investors and market participants are advised to keep an eye on further announcements from Looks Health Services Limited or the BSE regarding the status of this reclassification application.

Looks Health Services Limited has announced significant changes in its leadership and promoter structure. The company's board has approved several key resignations and a request for promoter reclassification.

Senior Leadership Resignations

The board has approved the resignations of:

1. Pritesh Doshi - Whole Time Director
2. Sejal Hitesh Jain - Independent Director
3. Milinath Gavas - Chief Financial Officer

Promoter Reclassification

In addition to the resignations, the company has approved the reclassification of two promoters from the 'promoter' category to the 'public' category:

1. Pritesh Doshi
2. Maxgainz Finserve Private Limited

This reclassification is subject to approval from the stock exchange and consent from the company's members.

Key Details of the Reclassification Requests

Reasons for Reclassification

Both Pritesh Doshi and Maxgainz Finserve Private Limited have stated that they:

1. No longer have any direct or indirect connection with the company's activities
2. Do not exercise control over the company's affairs or decision-making processes
3. Have no impact on decisions taken by the company

Compliance with SEBI Regulations

The applicants have provided undertakings in accordance with Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. They have confirmed that:

• They do not hold more than 10% of the total voting rights in the company
• They do not exercise control over the company's affairs, directly or indirectly
• They do not have any special rights through formal or informal arrangements
• They are not represented on the Board of Directors
• They do not act as Key Managerial Persons in the company
• They are not willful defaulters as per RBI guidelines
• They are not fugitive economic offenders

Commitments from the Applicants

The applicants have committed to:

1. Comply with the conditions mentioned in Regulation 31A(3) of SEBI (LODR) Regulations, 2015 at all times from the date of reclassification
2. Adhere to specific conditions for a period of not less than three years from the date of reclassification

Next Steps

The Board of Directors of Looks Health Services Limited will need to:

1. Consider and approve the reclassification requests
2. Place the matter before the company's members, if required
3. Make the necessary application to the Stock Exchange in accordance with SEBI regulations

These changes, including the senior resignations and potential promoter reclassification, may significantly impact the company's leadership structure and shareholding pattern. Investors and stakeholders should closely monitor further announcements from Looks Health Services Limited regarding these developments.