Epsilon Bidco requests reclassification from promoter to public category after selling its entire stake
EPL Ltd has received a request letter from Epsilon Bidco Pte.
By ScoutQuest · · 2 min read
- Stake Sold
- ~8.45 crore equity shares, or 26.37% of the paid-up share capital
- Mode of Sale
- on-market trades on 1 September 2026
- Holding After Sale
- nil (0.00%)
What was announced
EPL Ltd has informed BSE and NSE that on October 16, 2026 it received a request letter from Epsilon Bidco Pte. Ltd. asking to be reclassified from the 'promoter' category to the 'public' category under Regulation 31A of the SEBI LODR Regulations. The company says the request will be suitably placed for consideration of the Board of Directors at its ensuing Board Meeting.
The stake involved
- Epsilon Bidco, described in the letter as the 'Outgoing Promoter', states that through on-market trades undertaken on 1 September 2026 it sold its entire shareholding in the company, i.e. ~8.45 crore equity shares aggregating to 26.37% of the paid-up share capital.
- It states that since those trades it holds nil (0.00%) of the company.
Why it wants reclassification
Because it no longer holds any shares, Epsilon Bidco has asked the company to make the necessary applications and obtain relevant authorisations from BSE and NSE, as required under Regulation 31A read with the exchanges' checklists, so that it can be reclassified from promoter to public.
Declarations it has made
- It does not hold more than 10% of the total voting rights in the company.
- It does not exercise control over the affairs of the company, directly or indirectly.
- It has no special rights through formal or informal arrangements, including shareholder agreements.
- It is not represented on the board of directors, including through a nominee director.
- It does not act as key managerial personnel in the company.
- It is not a 'wilful defaulter' as per Reserve Bank of India guidelines, and is not a fugitive economic offender.
- There is no pending regulatory action against it.
- There are no persons related to it, as per Regulation 31A(1)(b), who are categorised as promoter or promoter group of the company or who are seeking reclassification.
Conditions it has agreed to
- It will continue to comply with the conditions at sub-clauses (i), (ii) and (iii) of clause (b) of Regulation 31A(3) at all times from the date of reclassification.
- It will comply with the conditions at sub-clauses (iv) and (v) of the same clause for a period of not less than 3 years from the date of reclassification.
- If it fails on either count, it would automatically be reclassified as promoter of the company again.
What to watch
The letter is a request. The reclassification is subject to the company making applications and obtaining authorisations from BSE and NSE as per their checklists, and to the Board considering the request.
Also from EPL
EPL Ltd shareholder buys 2.0406% stake, holding rises to 9.3993%
24 Oct 2026
Application shared with BSE and NSE for reclassification of Epsilon Bidco from promoter to public category
23 Oct 2026
Board approves Epsilon Bidco's reclassification from promoter to public category
21 Oct 2026
More numbers
- Entire shareholding sold by Epsilon Bidco84,479,781 equity shares
- Shareholding sold as share of paid-up capital26.37%
- Shareholding held since the salenil (0.00%)
- Voting rights threshold confirmed not exceeded10% (ten percent.)
- Period for which certain Regulation 31A(3)(b) conditions will be complied withnot less than 3 (three) years
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