Promoter group entity applies for reclassification to public category

Ganon Products Ltd has received a request from Kamla Business Ventures LLP, currently part of its Promoter & Promoter Group, to be reclassified as 'Public'.

Tue 6 Oct 2026

What has been disclosed

• Ganon Products Ltd has informed BSE that it received a request from Kamla Business Ventures LLP, an entity currently forming part of the company's "Promoter & Promoter Group".
• The LLP is seeking a change of its status from "Promoter & Promoter Group" to the "Public" category.
• The application has been made under Regulation 31A and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• A copy of the request, along with the requisite declarations and supporting documents, has been enclosed with the company's letter to the exchange.

What the applicant has declared

• It does not exercise any direct or indirect control over the affairs of the company.
• It does not have any special rights in the company through formal or informal arrangements with the company or its promoters.
• It is not represented on the Board of Directors and does not hold any position as Key Managerial Personnel.
• It is not involved in the day-to-day affairs or the management and decision-making process of the company.
• It has no intention to exercise or influence control over the company.
• It is not acting as a promoter or person in control of the company.

What the applicant has asked the company to do

• Initiate the process for its reclassification from the "Promoter" category to the "Public" category.
• Place the matter before the Board of Directors and thereafter before the shareholders of the company, as may be required under applicable provisions of the SEBI LODR Regulations.
• The LLP has also undertaken to provide such further information, declarations and documents as may be required by the company, the stock exchange(s), SEBI or any other regulatory authority in connection with the proposed reclassification.

How to read this

• A reclassification means an entity that is presently counted as part of the promoter group would instead be treated as a public shareholder.
• Promoter group classification is relevant to how promoter holding and control in a company are reported and tracked.
• The communication is at the application stage: the request has been received by the company and forwarded to the exchange, and the process described by the applicant involves the Board of Directors and then the shareholders.

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