Application submitted to BSE seeking no-objection for reclassification of two promoters to public category
The company has submitted an application to BSE seeking the exchange's no-objection to reclassify two people from the "Promoter and Promoter Group" category to the "Public" category.
By ScoutQuest · · 2 min read
- Individuals for reclassification
- Mr. Jugalkishore Harikisan Maniyar and Mrs. Sunita Jugalkishore Maniyar
- Board approval date
- 3rd March 2026
- Members' approval date
- 14th April 2026
What the company has told the exchange
- Popees Baby Care India Limited (formerly Hari Govind International Limited) has submitted an application to BSE seeking the exchange's no-objection for the reclassification of Mr. Jugalkishore Harikisan Maniyar and Mrs. Sunita Jugalkishore Maniyar from the "Promoter and Promoter Group" category to the "Public" category.
- The update states the application is made under Regulation 31A(3), and that the company has informed the exchange under Regulations 30 and 31A(8)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The sequence the update sets out
- The two individuals made their requests on 14th February 2026.
- The Board of Directors approved the request on 3rd March 2026.
- The members approved it on 14th April 2026.
- With those approvals in place, the company has now written to the exchange seeking its no-objection.
The letter is signed by Shaju Thomas, Managing Director.
What "reclassification" means here
- Shares of a listed company are grouped into categories for regulatory purposes, broadly the "Promoter and Promoter Group" category and the "Public" category.
- Moving a person from the promoter group to the public category changes how that person's holding is counted in these categories once the process is completed.
- The update describes this as a change of category under the promoter reclassification rules; the request is for the exchange to raise no objection to it.
Why the exchange's view matters
- For a promoter to move to the public category, the prescribed process includes approvals within the company and then an application to the stock exchange for its no-objection.
- The company has now taken that step and has placed the fact of the application on record with the exchange.
What a reader can watch for
- Any communication on the exchange's decision on the no-objection sought.
- Any further announcement once the reclassification process moves to its next stage.
In simple terms, this is a procedural step in a category change that the company's board and members have already approved, and it is now with the exchange for its no-objection.
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