Vaxtex Cotfab Limited Board Approves Reclassification of Promoter Group Member
Vaxtex Cotfab Limited’s Board of Directors approved a request seeking the reclassification of a promoter group member from the "Promoter Group category" to the "Public" category. The decision was taken during a board meeting held on Wednesday, July 29, 2026.The company confirmed that Mrs. Bharti Kailash Gupta, a member of the Promoter group, sought this reclassification through a request letter dated July 21, 2026. The Board considered and unanimously passed resolutions pertaining to this matter, which is subject to approval by the National Stock Exchange of India Limited (NSE).
The Board confirmed that Mrs. Bharti Kailash Gupta, identified as an Outgoing Promoter group member, neither holds control over the company’s affairs directly or indirectly nor holds any special power in decision making. The resolution noted that this reclassification would not impact other shareholders.
The Board also reviewed various conditions and confirmations provided by the promoter group member related to the proposed change of status. Key commitments confirmed included:
| Promoter Group Member | Status Seeking | Core Confirmation Point |
|---|---|---|
| Mrs. Bharti Kailash Gupta | Public Category | Does not hold more than 10% of paid-up equity share capital or total voting rights in the company. |
The resolutions passed by the Board confirmed that, in accordance with relevant provisions, the Outgoing Promoter group member has made confirmations, including:
- Not holding control over the affairs of the company directly or indirectly.
- Not having any special rights in the company through formal or informal arrangements.
- Not being declared a wilful defaulter as per Reserve Bank of India guidelines.
- Not occupying a Key Managerial Personnel position within the company.
- That the Company’s pre and post reclassification status will comply with requirements for minimum public shareholding.
The Board also noted that, subject to approval from NSE and other required authorizations, the company does not have any outstanding dues owed to the Securities and Exchange Board of India or depositories.
Following receipt of the necessary approval from the NSE regarding the reclassification, Vaxtex Cotfab Limited intends to reflect this change in its Statement of Shareholding pattern starting from the immediate succeeding quarter.
VCL Stock Price Movement
Today, Vaxtex Cotfab Limited saw its stock climb by 1.01%, settling at ₹0.98 in the market. The equity reflected strong investor interest, with a total traded volume of 303,513 shares recorded during the session.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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