Avalon Technologies: Board Approves Promoter Reclassification

Avalon Technologies Limited announced that its Board of Directors has approved the reclassification request of Mr. Bhaskar Srinivasan and his promoter group from the 'Promoter' category to the 'Public' category. This approval is subject to necessary regulatory approvals under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The decision was made after considering the request letter and undertakings provided by Mr. Srinivasan and the promoter group trusts, confirming they collectively hold less than 10% of voting rights and do not exercise control over the company's affairs. The meeting was held on November 12, 2026.