NACL Industries has received a formal request for promoter group re-classification under SEBI Listing Regulations on December 18, 2025. Algavista Greentech Private Limited (AGPL) has sought re-classification from the promoter and promoter group category to public category, citing changes in its shareholding structure.

Background of Re-classification Request

The re-classification request stems from a significant change in AGPL's ownership structure. E.I.D.-Parry (India) Limited (EID), which was part of NACL Industries' promoter group, has reduced its shareholding in AGPL from 50.00% to nil holdings. This change occurred following the sale of EID's stake in AGPL to its joint venture partner, Synthite Industries Private Limited.

Regulatory Compliance and Justification

AGPL has confirmed that it no longer falls under the definition of promoter group as specified in regulation 2(pp) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has provided comprehensive confirmations under Regulation 31A(3)(b) of the SEBI Listing Regulations, stating that neither AGPL nor any person related to it:

• Holds more than 10.00% of total voting rights in NACL Industries
• Exercises control over company affairs directly or indirectly
• Has special rights through formal or informal arrangements
• Is represented on the board of directors
• Acts as key managerial personnel
• Is classified as willful defaulter or fugitive economic offender

Current Shareholding Status

As per the disclosure, AGPL's current shareholding position in NACL Industries stands at nil, effectively making this a technical de-classification rather than a traditional re-classification.

Next Steps and Regulatory Process

NACL Industries will place the re-classification request before its Board of Directors as stipulated under Regulation 31A(3) of the SEBI Listing Regulations. Following board approval, the company will submit an application seeking no-objection from both National Stock Exchange of India Limited and BSE Limited. AGPL has committed to providing all necessary information and documents to facilitate the re-classification process and comply with ongoing regulatory requirements.

The re-classification, once approved, will result in AGPL's removal from NACL Industries' promoter group list, reflecting the changed ownership dynamics following the stake sale by E.I.D.-Parry (India) Limited.

NACL Industries Limited has announced an updated meeting of its Securities Issue Committee scheduled for December 31, 2025. The meeting will focus on crucial aspects of the company's rights issue, including allotment procedures and basis of allotment, following the earlier approval of the Letter of Offer.

Updated Meeting Details

Key Agenda Items

The Securities Issue Committee meeting will consider and discuss several critical matters in connection with the rights issue:

• Allotment of equity shares
• Basis of allotment determination
• Other related matters pertaining to the rights issue process

This meeting represents a significant progression from the company's earlier announcement on December 8, 2025, when the Securities Issue Committee had approved the Letter of Offer for raising funds through the issuance of equity shares by way of a rights issue.

Regulatory Framework

The meeting notification has been issued in strict compliance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This regulation mandates listed companies to inform stock exchanges about board meetings and committee meetings that may impact shareholders' interests.

Financial Context

The rights issue initiative comes against the backdrop of NACL Industries' recent financial performance:

Market Implications

The December 31 meeting outcome will be crucial for determining the final structure of the rights issue. Shareholders and potential investors in the agrochemical sector are awaiting details about the allotment process, which will directly impact investment decisions and the company's capital structure enhancement strategy.