Board approves promoter group members' re-classification to public category
Board of Knowledge Marine & Engineering Works met on October 21, 2026 and approved requests from 16 promoter group members to move from the 'Promoters/Promoter group' category to the 'Public' category.
By ScoutQuest · · 2 min read
- Members reclassified
- 16 promoter group members
- Shareholding of two members
- 150 shares and 30 shares
- Remaining members holding
- 0 shares each
What the Board approved
The Board of Directors of the company met on October 21, 2026 and, among other items, considered and approved Request Letters dated October 16, 2026 (received on October 19, 2026) from 16 members of the promoter group. These members want to be re-classified from the 'Promoters/Promoter group' category to the 'Public' category under Regulation 31A of the Listing Regulations.
The meeting commenced at 06:30 p.m. (IST) and concluded at 07:10 p.m. (IST).
Who asked for the change
- The requests come from 16 named individuals, listed in the update as Dinesh Mohanlal Kewalramani, Pankaj Gurbani, Bharti Mukesh Daswani, Divya Chandnani, Jasmine Andnani, Inder Chandnani, Yash Chandnani, Narayandas Gurbani, Chandra Gurbani, Lalit Gurbani, Viyan Kewalramani, Viya Kewalramani, Kavita Kewalramani, Poonam Nankani, Tanya Karamchandani and Reshma Chandnani.
- Only two of them hold shares: Pankaj Gurbani holds 150 shares and Bharti Mukesh Daswani holds 30 shares. The update marks their percentage holding as 'Negligible'.
- The remaining 14 members hold 0 shares and 0 percent.
What re-classification means
When a person moves from the promoter group category to the public category, the shares they hold are counted as part of public shareholding instead of promoter shareholding. The total number of shares of the company does not change because of this; only the category in which these holdings are counted changes. This is a change of classification requested by the individuals themselves, not a sale or purchase of shares.
Why it happens
Regulation 31A of the Listing Regulations sets out how a person can be re-classified out of the promoter group, and requires the company to follow that process, including an application to the stock exchanges.
What happens next
The Board's approval is subject to approval from the Stock Exchange in terms of Regulation 31A. The company has said it will undertake the necessary steps in compliance with the Listing Regulations. Until the exchange approves, the re-classification is not complete.
What a retail investor can take away
- This is a category change for 16 promoter group individuals, 14 of whom hold no shares at all and two of whom hold small lots of 150 and 30 shares.
- The Board has cleared the requests; the final step rests with the Stock Exchange.
- Since the individuals concerned hold negligible or nil shares, the practical effect on the promoter versus public shareholding split is limited to those two small holdings.
Also from Knowledge Marine & Engineering Works
Promoter group members seek reclassification from Promoter Group to Public category
19 Oct 2026
Sub-division record date fixed: 1 equity share of Rs. 5/- to split into 5 shares of Rs. 1/-
12 Oct 2026
More numbers
- Pankaj Gurbani - shares held150
- Bharti Mukesh Daswani - shares held30
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