Promoter Reclassification11 Sept 2026, 04:08 pm
Burnpur Cement: NSE Grants NOC for Promoter Reclassification
AI Summary
Burnpur Cement Ltd has received a No Objection Certificate (NOC) from the National Stock Exchange (NSE) regarding the reclassification of Mrs. Suchitra Agarwal from 'Promoter' to 'Public' category. This follows an order from the Hon'ble Calcutta High Court directing the NSE to consider her application. The reclassification request was initially rejected by the company's board in November 2025, citing the management takeover by UV Asset Reconstruction Limited (UVARCL) under SARFAESI Act and the subsequent change in shareholding. Trading in Burnpur Cement's shares resumed on August 11, 2026, after a suspension due to a capital reduction scheme.
Key Highlights
- NSE grants NOC for promoter reclassification of Mrs. Suchitra Agarwal.
- Reclassification moves from 'Promoter' to 'Public' category.
- Calcutta High Court directed NSE to consider the reclassification request.
- Company board had previously rejected the request in November 2025.
- Management takeover by ARC and shareholding changes influenced the decision.
Price Impact
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