Board approves request to reclassify a promoter-group shareholder as public
Shree Cement's Board has approved a request to move one shareholder from the 'Promoter Group' to the 'Public' category.
By ScoutQuest · · 2 min read
- Shares held by reclassified shareholder
- 2050 equity shares
- Stake as % of total shares
- 0.0057% of the company's total shares
- Board meeting date
- 23rd October, 2026
What was approved
The Board of Directors of Shree Cement, at its meeting held on 23rd October, 2026, considered and approved a request for reclassification from the 'Promoter Group' category to the 'Public' category under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The request came from Ms. Riya Puja Jain. She holds 2050 equity shares of the company, which is 0.0057% of the company's total shares.
What it means in simple words
- Shares of a listed company are grouped into categories such as 'Promoter Group' and 'Public'.
- A person in the Promoter Group is treated as part of the founding/promoter family for regulatory purposes.
- Reclassification to 'Public' means that person's shares would be counted as public shareholding instead of promoter shareholding.
- Reclassification under Regulation 31A is a defined regulatory process, and the company has to apply to the stock exchanges for a No Objection Certificate.
What happens next
- The company will file the application with National Stock Exchange of India Ltd. and BSE Ltd. in due course for obtaining the No Objection Certificate.
- The reclassification is subject to the approval of the stock exchange(s), shareholders and/or such other statutory or regulatory approvals as may be required.
- The company said it will undertake the necessary subsequent actions and disclosures as per applicable regulatory requirements.
How to read the size of this event
- The stake involved is 2050 equity shares, or 0.0057% of total shares, so the change in the promoter category, once completed, would be small in percentage terms.
- The Board approval is one step; the exchange No Objection Certificate and shareholder approval are still required before the reclassification takes effect.
- The update follows the company's earlier intimation dated 8th October, 2026 on the same matter.
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More numbers
- Shares held by Ms. Riya Puja Jain2050 equity shares
- Stake in company held by Ms. Riya Puja Jain0.0057%
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