Request received to reclassify a promoter group entity to public category under Regulation 31A
The company has received a request from State Bank of India, promoter of the company, to reclassify Indian Digital Payment Intelligence Corporation from the 'Promoter Group' category to the 'Public' category.
By ScoutQuest · · 2 min read
- Reclassification Request
- Indian Digital Payment Intelligence Corporation from 'Promoter Group' to 'Public'
- Regulatory Basis
- Regulation 31A of the SEBI Listing Regulations
- Shareholding of Entity
- This entity is not holding any shares in the company
What the company has informed the exchanges
- The company has received a request from State Bank of India, promoter of the company.
- The request seeks reclassification of Indian Digital Payment Intelligence Corporation from the 'Promoter Group' category to the 'Public' category.
- The request is made in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The company has clarified that this entity is not holding any shares in the company.
What reclassification means
A company's 'promoter group' is the set of entities treated as part of the promoter family for regulatory purposes. Moving an entity from the 'Promoter Group' category to the 'Public' category means it would no longer be counted as part of the promoter group. In this case, the company has clarified that the entity concerned does not hold any shares in the company.
What happens next
- The company says it will take the necessary steps in compliance with Regulation 31A of the SEBI Listing Regulations.
- The matter will be placed before the board for its analysis and views.
- The company will apply for the necessary no-objections and/or approvals to regulatory authorities including SEBI and the stock exchanges, as may be required.
Points a retail investor may note
- This intimation conveys that a reclassification request has been received; it does not say the reclassification has been approved or completed.
- The company has stated that the entity in question is not holding any shares in the company, which is the factual clarification given alongside the request.
- The next steps described in the update are board consideration and applications for no-objections and/or approvals from regulators including SEBI and the stock exchanges, as may be required.
Also from SBI Funds Management
Audio recording of SBI Funds Management Q2/H1 FY2026-27 earnings call held October 23, 2026 made available
23 Oct 2026
Board approves Q2 and H1 results, postal ballot for independent director, promoter group reclassification
23 Oct 2026
Investor presentation and press release on Q2 and H1 FY27 results
23 Oct 2026
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