Classic Filaments Ltd. Announces Reclassification of Promoters Under SEBI LODR Regulations

Classic Filaments Ltd. has announced the reclassification of promoters under the SEBI LODR Disclosure Requirements Regulations, 2015. The company informed that Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain and Mr. Varun Jindal (hereinafter collectively referred to as the 'Acquirers') have entered into a Share Purchase Agreement with the erstwhile Promoters/Seller Shareholders for acquisition of 41,88,549 Equity Shares, which amounts to 68.51% of the total paid-up equity share capital and voting rights of the Company. Upon successful completion of the Open Offer and in compliance with the terms of the open offer, the aforesaid Acquirers shall be classified as Promoters of the Company. The erstwhile Promoters and persons related to the erstwhile promoters seeking reclassification shall be reclassified under the Public Category.