Board approves reclassification of Madhukar Housing to Public category, subject to Stock Exchange approval
Board approved reclassification of Madhukar Housing and Development Company from 'Promoter/Promoter Group' to 'Public', subject to Stock Exchange approval.
By ScoutQuest · · 1 min read
- Reclassified entity holding
- Madhukar holds nil shares/voting rights
- Promoter group holding post reclassification
- ~183.36 crore shares (74.08%)
What happened
DLF Limited's Board of Directors, at its meeting held on 16 October 2026, considered and approved the request to reclassify Madhukar Housing and Development Company from the 'Promoter/Promoter Group' category to the 'Public' category. The approval is based on the recommendation of the Stakeholders Relationship Committee and is subject to the approval of BSE Limited and National Stock Exchange of India Limited, the stock exchanges where the company's equity shares are listed.
The entity being reclassified
Madhukar Housing and Development Company is an entity belonging to the 'Promoter/Promoter Group'. It holds nil equity shares/voting rights of the company. The company had earlier informed about receiving this request.
Key points
- Madhukar holds nil equity shares/voting rights in the company.
- The Board's approval is subject to the approval of the Stock Exchanges.
- The detailed application will be submitted to the Stock Exchanges within the stipulated timelines.
- The Board authorised the Managing Director, Group Chief Financial Officer and Company Secretary to finalise and submit the application and to take connected actions.
Shareholding impact
The update states that the reclassification will not have any impact on the operations of the company, financial or otherwise, and will also have no impact on the existing shareholding structure including public shareholders. Post reclassification, the Promoter/Promoter Group will continue to hold ~183.36 crore equity shares, representing 74.08% of the company's paid-up equity share capital.
What it means
- Since the entity being reclassified holds no shares, the promoter group's holding remains ~183.36 crore equity shares, or 74.08%.
- What changes is the category of the entity, from 'Promoter/Promoter Group' to 'Public'.
- The proposal moves ahead only after the Stock Exchanges grant approval.
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More numbers
- Promoter/Promoter Group holding post reclassification1,83,36,36,385
- Promoter/Promoter Group stake post reclassification74.08%
- Equity shares/voting rights held by Madhukarnil
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