Pradhin Limited Secures BSE Approval for Promoter Reclassification
Pradhin Limited has received approval from the Bombay Stock Exchange (BSE) to reclassify four individuals from 'Promoter and Promoter Group' to 'Public' category. This reclassification affects 89,04,450 shares, representing 0.88% of the company's total shareholding. The move, compliant with SEBI regulations, involves Saroj Jayprakash Jalan (0.43%), Sachin Jayprakash Jalan (0.45%), Bobby Sonthalia (0%), and Govind Prasad (0%). Jay Rajeshbhai Patel, Director of Pradhin Limited, confirmed the receipt of the approval letter.
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Pradhin Limited , a company listed on the Bombay Stock Exchange (BSE), has successfully obtained approval for a significant change in its shareholding structure. The BSE has granted permission to reclassify four individuals from the 'Promoter and Promoter Group' category to the 'Public' category, marking a shift in the company's ownership classification.
Reclassification Details
The reclassification involves the following individuals:
| Name | Shares Held | Shareholding % |
|---|---|---|
| Saroj Jayprakash Jalan | 43,70,250 | 0.43% |
| Sachin Jayprakash Jalan | 45,34,200 | 0.45% |
| Bobby Sonthalia | 0 | 0.00% |
| Govind Prasad | 0 | 0.00% |
| Total | 89,04,450 | 0.88% |
This move affects a total of 89,04,450 shares, representing 0.88% of the company's total shareholding.
Regulatory Compliance
The reclassification was carried out in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory framework governs the process of reclassifying promoters to public shareholders, ensuring transparency and fairness in the stock market.
Impact on Shareholding Structure
With this reclassification, the shareholding structure of Pradhin Limited undergoes a notable change. The reclassified shares, previously under the promoter category, will now be considered part of the public shareholding. This move could potentially impact the company's public float and ownership dynamics.
Management Statement
Jay Rajeshbhai Patel, Director of Pradhin Limited, confirmed the receipt of the approval letter from the Bombay Stock Exchange. The company has duly informed its stakeholders and the market about this development, in line with its obligations under SEBI regulations.
About Pradhin Limited
Pradhin Limited, with its corporate office located in Ahmedabad, Gujarat, and registered office in Chennai, Tamil Nadu, operates under the CIN: L15100TN1982PLC009418. The company's shares trade on the BSE.
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