BSE Approves Indosolar Ltd Shareholder Reclassification Amid Compliance Note
Indosolar Ltd has received approval from the Bombay Stock Exchange (BSE) regarding the reclassification of certain promoter shareholders, a decision which includes observations regarding timelines for required disclosures.The exchange approved Indosolar Ltd's application dated June 07, 2025, seeking Reclassification of Promoter Shareholders under Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This approval confirms that specific entities will be classified as public shareholders following the reclassification process.
The shareholding details both pre and post-reclassification remained consistent according to the approved documents:
| Quarter | Promoter Holding (Shares) | Promoter Holding (%) | Public Holding (Shares) | Public Holding (%) |
|---|---|---|---|---|
| Pre-Reclassification | 3,11,73,505 | 74.93 | 1,04,30,186 | 25.07 |
| Post-Reclassification | 3,11,73,505 | 74.93 | 1,04,30,186 | 25.07 |
The reclassified promoters, who will now be considered public shareholders, include Hulas Rahul Gupta, Greenlite Lighting Corporation, Bhushan Kumar Gupta, Priyadesh Gupta, and Abha Gupta. The details of these outgoing promoter entities are as follows:
| Sr. No. | Name of Outgoing Promoter(s) | No. of Shares | % Shareholding |
|---|---|---|---|
| 1. | Hulas Rahul Gupta | - | 0% |
| 2. | Greenlite Lighting Corporation | - | 0% |
| 3. | Bhushan Kumar Gupta | - | 0% |
| 4. | Priyadesh Gupta | - | 0% |
| 5. | Abha Gupta | - | 0% |
Compliance Observation from BSE
In addition to granting the approval, the exchange noted an observation regarding a mandatory disclosure requirement. BSE observed that the required disclosure concerning the application for Reclassification of Promoter Shareholders was submitted on November 10, 2025. This submission date falls after the stipulated deadline of June 08, 2025, which was set for the necessary disclosure under Regulation 31A(8)(c).BSE advised the company to exercise due diligence and initiate corrective steps to avoid recurrence of such lapses in the future, viewing the non-compliance seriously.
WAAREEINDO Stock Price Movement
As of 12:16 PM, shares of Indosolar Limited are edging higher to ₹314.4, having gained 2.51% during the Live Market trading session. The equity trades with a daily volume of 50,413 shares, currently operating within the intraday range defined by the ₹305.6 and ₹318.5 levels.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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