Antelopus Selan Energy Limited Agrees to Reclassify Shareholder Status from Promoter Group to Public

Antelopus Selan Energy Limited Agrees to Reclassify Shareholder Status from Promoter Group to Public​

Antelopus Selan Energy Limited, formerly known as Selan Exploration Technology Limited, announced a key corporate decision following its Board of Directors meeting held on July 27, 2026. The board approved the reclassification of Ms. Payal Upadhyay’s status, changing her designation from 'Promoter Group Shareholder' to 'Public Shareholder.'

The resolution formalized the request received from Ms. Payal Upadhyay for this status change, subject to necessary approvals from stock exchanges and shareholder consent.

As part of the reclassification process, the Board took note that Ms. Payal Upadhyay confirmed several conditions regarding her holdings and role within the company. These confirmations include:

• She will not hold more than 10% of the fully paid-up equity share capital and voting capital of the Company.
• She will not exercise control over the affairs of the listed entity directly or indirectly.
• Any special rights she may have held through formal or informal agreements shall be terminated.
• She will not be represented on the Board of Directors, including as a nominee director, nor act as key managerial personnel in the Company.

Furthermore, Ms. Payal Upadhyay confirmed that she is neither a willful defaulter as per Reserve Bank of India Guidelines nor a fugitive economic offender.

The Board also affirmed several compliance matters relating to the company's status post-reclassification:

• The Company will be compliant with the requirement for minimum public shareholding as required by regulatory standards.
• Trading in the Company's shares has not been suspended by stock exchanges.
• The Company does not have any outstanding dues to the Securities and Exchange Board of India, the stock exchanges, or depositories.

ANTELOPUS Stock Price Movement​

Shares of Antelopus Selan Energy Limited slipped by 1.95% on Monday, settling at a closing price of ₹875.55. Trading activity for the stock saw a volume of 138,813 shares throughout the session.