7NR Retail Ltd Receives Request for Reclassification from Promoter to Public Category
7NR Retail Ltd has received a formal request seeking the reclassification of its promoter status to the public category. The undertaking was submitted by Mr. Umang Vijaykumar Trivedi, who is part of the Promoter group individual involved in the matter.The request pertains to the change in classification from 'Promoter' to 'Public', following confirmation of certain criteria relating to shareholding and control.
The details of the promoter seeking reclassification are provided below:
| Sr. No. | Promoter Name | Category | No. of Shares | Percentage of Holding |
|---|---|---|---|---|
| 1. | Mr. Umang Vijaykumar Trivedi | Promoter | 0 | 0.00% |
As part of the reclassification process, Mr. Trivedi confirmed several points regarding his position and holdings in 7NR Retail Limited. These confirmations include stating that he, or his immediate relatives, do not hold more than 10% of paid-up equity share capital or voting rights in the company.
He also affirmed that neither he nor any of his immediate relatives exercises control over the affairs of the company, possesses any special rights through formal or informal arrangements, holds a position on the Board of Directors, or holds a Key Managerial Personnel role within 7NR Retail Limited. Furthermore, he confirmed that there is no pending regulatory action against him and that he is not a wilful defaulter as per Reserve Bank of India guidelines.
The undertaking included commitments from Mr. Trivedi to continue complying with the conditions set forth in Regulation 31A (3) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, starting from the date of reclassification. This includes maintaining compliance with specific clauses for a period not less than three years.
Stock Price Movement
7NR Retail Ltd. shares settled at ₹5.55 after trading on Friday, declining by 2.29%. The stock moved between an intraday low of ₹5.52 and a high of ₹5.80.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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