Shareholders Withdraw Reclassification Requests, Opt to Remain in Promoter Category
CIAN Agro Industries & Infrastructure Ltd has announced that several key shareholder groups have withdrawn their prior requests for reclassifying their stake from 'Promoter and Promoter Group' status to the 'Public' category. The shareholders concerned have elected instead to continue holding their shares under the promoter classification.The withdrawal relates to previous intentions to gain public status, a move which is now being reversed by these entities. These decisions involve multiple shareholder groups who are choosing to retain their existing status within the company structure.
The withdrawing shareholders and their respective holdings include: MM ACTIV SCI-TECH COMMUNICATIONS PRIVATE LIMITED, Uday Amrut Lambat (through legal heir), Dattu (Dattatraya) Balaji Kalamkar (through legal heir), and Keshao Bhaskarrao Chandle (through legal heir).
The details of the concerned stakeholders and their equity stakes are provided below:
| Name of Shareholder | Percentage of Holding | Number of Equity Shares Held |
|---|---|---|
| MM ACTIV SCI-TECH COMMUNICATIONS PRIVATE LIMITED | 0.36% | 1,00,000 |
| Uday Amrut Lambat (Legal Heir) | 0.001% | 500 |
| Dattu (Dattatraya) Balaji Kalamkar (Legal Heir) | 0.0035% | 1,000 |
| Keshao Bhaskarrao Chandle (Legal Heir) | 0.001% | 500 |
In specific instances, the decision to withdraw was based on operational factors such as non-completion of share transmission processes for legal heirs, or due to not fulfilling conditions specified by regulatory requirements regarding reclassification criteria.
MM ACTIV SCI-TECH COMMUNICATIONS PRIVATE LIMITED informed that they are opting to continue as a Promoter of the Company, choosing this category despite their earlier request for reclassification. Similarly, the legal heirs and nominees of Uday Amrut Lambat, Dattu (Dattatraya) Balaji Kalamkar, and Keshao Bhaskarrao Chandle have elected to maintain their shareholding within the Promoter group.
Stock Price Movement
CIAN Agro Industries & Infrastructure Ltd finished Wednesday at ₹1778.20, rallying 5.00% in post-market trading. Shares experienced a significant intraday swing, moving from the low of ₹1608.90 up to reach the day's high of ₹1778.20.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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