Application shared with BSE and NSE to reclassify an outgoing promoter to the public category
The company has submitted an application to BSE and NSE.
By ScoutQuest · · 2 min read
- Application Submitted Date
- October 16, 2026
- Regulation Cited
- Regulation 31A(3) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
- Reclassification Requested
- from "Promoter & Promoter Group" category to the "Public" category
What the company has told the exchanges
The company has submitted an application with BSE Limited and the National Stock Exchange of India Limited seeking no-objection or approval for reclassification of Mr. Wajid Ahmed, described in the letter as the "Outgoing Promoter", from the "Promoter & Promoter Group" category to the "Public" category.
- The application is made under Regulation 31A(3) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
- The company states the application was submitted on October 16, 2026.
- The letter says it is in continuation of the outcome of the meeting of the Board of Directors shared with the exchanges on 15 October 2026.
- The letter is signed by Nikhil Sundrani, Company Secretary & Compliance Officer.
What "reclassification" means here
Listed companies classify their shareholding broadly into two buckets. The "Promoter & Promoter Group" category covers the promoters of the company and the persons and entities grouped with them. The "Public" category covers everyone else.
A request like this is to move one named person out of the promoter group bucket and into the public bucket. In simple terms, once the move takes effect, that person would no longer be counted as part of the promoter group for the purposes of the company's shareholding classification.
What is happening right now
The letter is an intimation that the application has been shared with both exchanges. The company is seeking the exchanges' no-objection or approval for the change.
Points a retail investor may note
- This is a category change for one named individual, described as an outgoing promoter, and not a fresh issue, buyback or transfer of shares announced in this letter.
- The application has been shared with both BSE and NSE, and the company is seeking their no-objection or approval.
- The letter sets out the steps taken so far and the date of submission.
Also from HMA Agro Industries
NSE allows waiver of fines levied for delay in audit committee, stakeholder panel compliance
20 Oct 2026
Board approves reclassification of an outgoing promoter to 'Public' category, subject to stock exchange approval
16 Oct 2026
Board approves reclassification of Wajid Ahmed from promoter group to public category
15 Oct 2026
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