Board approves re-classification of nine promoter group entities to public category

The Board of Directors met on October 06, 2026 and approved requests from nine entities currently in the 'Promoter Group' to be re-classified as 'Public Shareholders'.

Tue 6 Oct 2026

Entities Reclassified

nine entities currently in the 'Promoter Group' to be re-classified as 'Public Shareholders'

Shareholding of Outgoing Entities

NIL equity shares, that is NIL % of the company

Board Meeting Date

October 06, 2026

What the company told the exchange

Rikhav Securities Limited informed BSE Limited that its Board of Directors, at its meeting held on October 06, 2026, considered requests received from entities presently classified as part of the Promoter Group, each referred to as an 'Outgoing Promoter Entity', vide letters dated October 05, 2026.

The Board was of the view that the conditions required for such re-classification as specified in Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 were duly met, and accordingly approved the requests for re-classification, subject to receipt of necessary approvals from BSE Limited.

The nine outgoing promoter entities

• Makshi Infotech Private Limited
• Parth Investment Consultants Private Limited
• Punya Associates LLP
• Aadarsh Trading LLP
• CU Lakhani
• MN Shah
• D N Shah
• S M Shah
• CJ Maniyar

Each of these nine entities holds NIL equity shares, which is NIL % of the shareholding, as set out in the table in the update.

What 're-classification' means

Companies report their shareholding in categories, most commonly 'Promoter and Promoter Group' and 'Public'. A re-classification moves an entity out of the promoter group category and into the public shareholder category. This changes how that entity is counted when the company presents its shareholding pattern.

Regulation 31A sets out the conditions that must be satisfied before such a move is allowed, and the Board has recorded its view that those conditions were duly met in this case.

Meeting details

The Board meeting commenced at 10:30 A.M. and concluded at 11:00 A.M. The company stated that the information is also being made available on its corporate website under the investor relations section.

How to read this

Because the entities being re-classified hold NIL shares, this development concerns the category label under which these entities are shown rather than any holding of shares by them. The approval is not final on its own; it is subject to receipt of the necessary approvals from BSE Limited.

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