Swojas foods Limited has received approval from the Bombay Stock Exchange (BSE) for the reclassification of one of its promoters under SEBI regulations. The company announced that BSE issued a no objection letter dated February 23, 2026, approving the reclassification request submitted earlier.

Regulatory Approval Details

The BSE approval comes in response to Swojas Foods' application dated January 31, 2026, which sought reclassification under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exchange reviewed the submission and granted the necessary no-objection for the reclassification request.

Promoter Reclassification Specifics

The reclassification approval specifically covers the following promoter:

This reclassification represents a significant corporate governance development for the company, allowing for the restructuring of its promoter classification in accordance with SEBI guidelines.

Compliance Requirements

BSE has emphasized that Swojas Foods must ensure compliance with subsequent relevant disclosures of material events related to this reclassification. The company is required to adhere to applicable provisions of Regulation 31A of SEBI (LODR) Regulations, 2015, going forward.

Company Information

Swojas Foods Limited, formerly known as Swojas Energy Foods Limited, is headquartered in Ahmedabad, Gujarat. The company maintains its registered office at Block A, Office No. 1004, Mondeal Heights, Nr. Panchratna Party Plot, S. G. Highway, Ahmedabad- 380051, Gujarat, India.

Timeline and Documentation

The approval process spanned approximately three weeks from application to approval. The company submitted its reclassification application on January 31, 2026, and received BSE's no objection letter on February 23, 2026. Swojas Foods formally communicated this development to the exchange on February 24, 2026, fulfilling its disclosure obligations under listing regulations.

Swojas Foods Limited has successfully converted 20,00,000 warrants into equity shares following board approval on February 18, 2026. The conversion represents a significant capital raising exercise that has strengthened the company's equity base and generated substantial proceeds for business operations.

Warrant Conversion and Regulatory Disclosure

The board of directors approved the conversion of warrants originally issued through preferential allotment to non-promoter investors. Following the conversion, Jhaveri Trading & Investment Pvt Ltd filed a substantial acquisition disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on February 19, 2026.

Jhaveri Trading's Shareholding Details

Jhaveri Trading and Investment Pvt Ltd, classified as a non-promoter entity, exercised the conversion option for 20,00,000 warrants out of their total holding of 33,31,500 warrants. The conversion resulted in the company acquiring a 5.70% stake in Swojas Foods Limited's equity share capital.

Capital Structure Impact

The warrant conversion has resulted in a substantial increase in the company's paid-up equity share capital. The newly allotted shares rank pari-passu with existing equity shares, providing equal rights and privileges to the converting warrant holders.

Regulatory Compliance and Background

The disclosure was signed by Rajesh Nanubhai Jhaveri, Director of Jhaveri Trading & Investment PvLtd (DIN: 00471351), and submitted to BSE Limited and Swojas Foods Limited. The warrant conversion follows the company's earlier disclosure and the original warrant issuance approved by shareholders at the Extra Ordinary General Meeting held on December 03, 2025.

The company will apply for listing and trading approval from BSE Limited for the newly issued equity shares. All regulatory disclosures have been made in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.