Board approves DBG Leasing's reclassification from Promoter Group to Public category

The Board approved a request from DBG Leasing and Housing Limited to move from the 'Promoter & Promoter Group' category to the 'Public' category.

Mon 28 Sep 2026

Request Date

September 19, 2026

Board Meeting Date

September 28, 2026 (2.50 pm to 4.05 pm)

NCLT Approval Date

June 13, 2025

Voting Rights Held

less than 10%

Pending Approvals

stock exchange and shareholder approval

What was decided

The Board of Directors approved a request letter received from DBG Leasing and Housing Limited (the "Outgoing Promoter") seeking reclassification from the 'Promoter & Promoter Group' category to the 'Public' category, under Regulation 31A of the Listing Regulations.

• Request letter from DBG dated September 19, 2026; intimated to BSE the same day.
• Board meeting held Monday, September 28, 2026, commencing at 2.50 pm and concluding at 4.05 pm.
• The approval is subject to the approval of the stock exchange, shareholders and any other approval that may be necessary.

Why the request was made

DBG itself underwent the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. The NCLT, New Delhi Bench-V, approved its Resolution Plan by order dated June 13, 2025, following which DBG was taken over by new management and its erstwhile promoters are no longer in control.

Conditions the Board noted

• The Outgoing Promoter is not in control of or managing the affairs of the Company and has no say in management decisions.
• It holds less than 10% voting rights in the Company and holds no special rights.
• It does not represent the board of directors (including as a nominee director) and is not a Key Managerial Person.
• It is neither a 'willful defaulter' under RBI guidelines nor a fugitive economic offender.
• The Company is compliant with Minimum Public Shareholding requirements, and the reclassification is not being done to achieve Minimum Public Shareholding.
• Trading in the Company's shares has not been suspended, and there are no outstanding dues to SEBI, the Stock Exchange or Depositories.

What it means for investors

Reclassification changes how a shareholder is labelled in the shareholding pattern, not the number of shares outstanding. Once effective, DBG's holding would be counted under public shareholding rather than promoter shareholding. The step is procedural and still requires exchange and shareholder approval before it takes effect.

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