Thirumalai Chemicals500412Reclassification update

Two promoter group members seek re-classification as public shareholders

Thirumalai Chemicals has received requests from two promoter group members to be re-classified as 'public' shareholders.

By ScoutQuest · Tue 27 Oct 2026, 11:33 PM IST · 2 min read

0.07%Mr Narayan Santhanam - stake in company

Mr Narayan Santhanam - stake in company: 0.07%.

Narayan Santhanam holding: 90,000 shares (0.07%)
Deepa Ajay holding: 10,000 shares (0.01%)
Reclassification request status: Board to consider at ensuing Board Meeting; subject to necessary approvals

Two members of the promoter group of Thirumalai Chemicals have written to the company asking to be re-classified from 'Promoter / Promoter Group' to 'Public'.
Mr Narayan Santhanam holds 90,000 equity shares, equal to 0.07% of the company.
Mrs Deepa Ajay holds 10,000 equity shares, equal to 0.01% of the company.
The company informed the stock exchanges that it received the requests and that the Board of Directors will consider them at its ensuing Board Meeting, subject to necessary approvals.

A listed company's shareholding is reported in two buckets: promoter and promoter group on one side, and public shareholders on the other. Investors watch this split to see how much of the company the founding family controls.
Re-classification is not a sale. The same people keep the same shares; only the bucket in which those shares are counted would change.
If approved, the promoter group's total holding would come down by the re-classified shares, and public shareholding would go up by the same number.
The move is a change of category, not a change in the number of shares held.

Neither exercises control over the affairs of the company, directly or indirectly.
Neither has any special rights through a formal or informal arrangement, including any shareholder agreement.
Neither is represented on the Board of Directors, and neither acts as Key Managerial Personnel.
Neither is a wilful defaulter, and neither has been categorised as a fugitive economic offender.
Both undertake to comply with the requirements for re-classification at all times and to provide the documents the company or the exchanges ask for.

The process is at the request stage. The Board first has to consider the requests, and the re-classification is subject to necessary approvals.
Because the holdings involved are small — 0.07% and 0.01% — the shift in the overall promoter-versus-public split would be correspondingly small on these two letters alone.
The stated facts about control, board representation and special rights are the points that decide whether a promoter group member can move to the public category; those confirmations are set out in the letters.

On the face of the update, this is an ownership-labelling request rather than a transaction. There is no buyer, no seller and no change in the shares held.
The promoter group's aggregate percentage and who remains in control are the figures that describe the company's ownership picture, and this disclosure is limited to the two request letters.

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