ZF Steering Gear Seeks Shareholder Approval for Promoter Reclassification
ZF Steering Gear (India) Limited has initiated a postal ballot to reclassify three promoters from 'Promoter Group' to 'Public' category. The reclassification involves Mrs. Amita Jinendra Munot (1.62% stake), Mr. Piyush Jinendra Munot (1.28% stake), and Mr. Yash Munot (1.24% stake). This action complies with SEBI regulations and has received BSE's no-objection. E-voting will run from November 1 to November 30, 2025. The promoters have confirmed compliance with SEBI LODR Regulation 31A conditions, including holding less than 10% voting rights and not exercising control over the company.
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ZF Steering Gear (India) Limited has initiated a postal ballot process to seek shareholder approval for the reclassification of three promoters from the 'Promoter Group' category to the 'Public' category. This move comes as part of the company's efforts to align its shareholding structure with regulatory requirements.
Key Details of the Proposal
The company is seeking to reclassify the following individuals:
| Promoter Name | Number of Shares | % of Paid-up Equity Capital |
|---|---|---|
| Mrs. Amita Jinendra Munot | 1,47,215 | 1.62 |
| Mr. Piyush Jinendra Munot | 1,16,235 | 1.28 |
| Mr. Yash Munot | 1,12,350 | 1.24 |
Regulatory Compliance
The reclassification is being pursued in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ZF Steering Gear has already received a no-objection letter from BSE Limited dated October 10, 2025, allowing the company to proceed with obtaining shareholder approval.
Voting Process
Shareholders will be able to cast their votes through electronic means (e-voting) with the following schedule:
- E-voting Start Date: November 1, 2025, at 9:00 AM (IST)
- E-voting End Date: November 30, 2025, at 5:00 PM (IST)
- Cut-off Date for Voting Eligibility: October 24, 2025
Promoter Commitments
The promoters seeking reclassification have confirmed their compliance with SEBI LODR Regulation 31A conditions, including:
- Holding less than 10% of the total voting rights in the company
- Not exercising control over the company's affairs
- Not having any special rights through formal or informal arrangements
- Not being represented on the board of directors
- Not acting as key managerial personnel
Implications
If approved, this reclassification could potentially impact the company's shareholding structure and may have implications for future corporate actions. However, it's important to note that the reclassification itself does not involve any change in the actual shareholding of these individuals.
Shareholders are advised to review the full postal ballot notice and explanatory statement before casting their votes. The outcome of this postal ballot will be crucial in determining the future classification of these promoters and could influence the company's compliance with listing regulations.
ZF Steering Gear has emphasized that this reclassification is part of its ongoing efforts to ensure transparency and compliance with regulatory requirements in its shareholding structure.
Historical Stock Returns for ZF Steering Gear
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.24% | +1.57% | -2.78% | -9.15% | -43.68% | +240.55% |
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