Promoters Request Reclassification to Public Status at International Conveyors Limited
International Conveyors Limited has seen two of its promoters formally request reclassification from 'Promoter' category shareholders to 'Public' category shareholders. This move follows the review of their requests by the Company's Board of Directors on August 14, 2026.The request comes from Ms. Smiti Somany and Mr. Pushpa Bagla. Both promoters stated that the reclassification is sought because they are neither directly nor indirectly associated with the business operations of the Company, possess no influence over its policy decisions, nor are involved in the day-to-day activities or control of the Company's affairs.
In line with their submissions, both individuals confirmed undertakings related to their status and compliance obligations regarding the reclassification process. They stated that they do not hold more than 10% of total voting rights, do not exercise control over the company's affairs, are not represented on the Board of Directors, nor act as a key managerial person in the Company.
The shareholding details for the two promoters seeking the change in status are detailed below:
| Name of Promoter | Category | Number of Equity Shares Held | % of Shareholding |
|---|---|---|---|
| Pushpa Bagla | Promoter | 31,359 | 0.05 |
| Smiti Somany | Promoter | 7,90,000 | 1.24 |
The Company's Board of Directors considered the requests from both Ms. Somany and Mr. Bagla as part of its review process on August 14, 2026, in response to their applications for reclassification.
INTLCONV Stock Price Movement
Today, International Conveyors Limited shares edged higher to close at ₹75.72 after gaining 8.13%, signaling a positive day for the industrial goods stock. The equity traded within an intraday range of ₹72.2 and ₹79, with 214,201 shares recorded in volume.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.