Omnitex Industries Receives Reclassification Request from Major Shareholder

Omnitex Industries India , a company listed on the Bombay Stock Exchange (BSE: 514324), has received a significant request from one of its major shareholders. Ashok Metharam Bhawnani, currently classified under the 'Promoter and Promoter Group' category, has formally requested to be reclassified as a 'Public' shareholder.

Reclassification Request Details

Bhawnani's request, received by the company on November 12, 2025, seeks to change his shareholding status from the 'Promoter/Promoter Group' category to the 'Public' category. This move could potentially alter the ownership structure of Omnitex Industries India. Here are the key details of Bhawnani's current shareholding:

Shareholder Name	Number of Equity Shares	Percentage of Shareholding
Ashok Metharam Bhawnani	925,380	22.01%

Reasons for Reclassification

In his request, Bhawnani has provided several reasons for seeking reclassification:

Non-participation in company management
Absence of a nominee director on the board
No role as a key managerial personnel
Lack of special rights through formal or informal arrangements

Bhawnani has also confirmed that he does not hold more than ten percent of the total voting rights and does not exercise control over the company's affairs.

Regulatory Process

The reclassification request is subject to a multi-step approval process as per the Securities and Exchange Board of India (SEBI) regulations:

Approval from the Board of Directors of Omnitex Industries India
Shareholder approval
Final approval from BSE Limited

Implications and Next Steps

This reclassification, if approved, could significantly impact the company's shareholding pattern and potentially its governance structure. Investors and market watchers will likely keep a close eye on the approval process and its outcome.

Omnitex Industries India has stated that it will proceed with the necessary steps to seek approvals from its Board of Directors, shareholders, and the BSE Limited, as required by Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

As the situation develops, stakeholders are advised to monitor further announcements from the company regarding the progress of this reclassification request.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.51%	-8.72%	+2.55%	+85.56%	+131.41%	+2,691.35%

Omnitex Industries India has announced significant changes to its leadership team, including the appointment of a new Chief Financial Officer (CFO) and the resignation of three directors.

New CFO Appointment

Omnitex Industries India has appointed Mr. Deepak Berry as its new Chief Financial Officer (CFO) and Key Managerial Personnel, effective November 7, 2025. Mr. Berry brings extensive experience to the role, with over 48 years in the financial sector.

Key Details of the Appointment:

Aspect	Details
Name	Deepak Berry
Position	Chief Financial Officer (CFO)
Effective Date	November 7, 2025
Qualifications	MBA in Finance from TASMAC, Pune
Experience	Over 48 years

Mr. Berry's career includes significant roles in various companies:

Porritts and Spencer Asia Ltd (1977-1985)
Birla Yamaha Ltd (1985-1988)
Essar Group Steel Business (Head of Works Account)
Essar Port at Hazira (CFO, 1988-2022)
CFO at Seros Group of Companies

The company has confirmed that Mr. Berry is not related to any directors of Omnitex Industries India and is not debarred from holding the position of Key Managerial Personnel by any regulatory authority.

Leadership Changes

Alongside Mr. Berry's appointment, Omnitex Industries India announced several other significant changes to its leadership:

Resignation of CFO: Mr. Kusshal Ambbala has resigned from his position as CFO, effective November 7, 2025, citing personal reasons.
Director Resignations:
- Mr. Durgaprasad Sabnis
- Mr. Ashok Bhawnani
- Mr. Kusshal Ambbala

All three directors have stepped down from their roles on the board, effective November 7, 2025, due to personal reasons.

New Chairman: Mr. Bhavik Ashokkumar Shah has been appointed as the new Chairman of the company.

Board Meeting Outcome

These changes were approved during a board meeting held on November 7, 2025, which commenced at 4:00 PM and concluded at 4:16 PM. The company has duly informed the BSE Limited of these developments in compliance with SEBI regulations.

These leadership changes mark a significant shift for Omnitex Industries India. The appointment of an experienced CFO like Mr. Deepak Berry, along with the board reshuffle, may indicate a new direction for the company. Stakeholders will likely monitor how these changes impact the company's financial management and overall performance in the future.