Business Update31 Mar 2026, 05:41 pm
Faze Three Ltd Reclassified as Public Category in Megamont Limited After Selling Entire Stake
AI Summary
Faze Three Ltd has sold its entire stake in Megamont Limited (formerly known as V R Woodart Limited) through a Share Purchase Agreement (SPA) with Ms. Maddukuri Mounica and Mrs. Minal Patil. This sale has resulted in Faze Three Ltd's shareholding in Megamont Limited standing at nil. Following this, Faze Three Ltd has applied for reclassification from the 'Promoter' category to the 'Public' category under Regulation 31A(10) of the SEBI LODR Regulations. The company is no longer associated with the business or management of Megamont Limited, nor does it exercise any control over its affairs or participate in its day-to-day activities, thereby ceasing to be a related party.
Key Highlights
- Faze Three Ltd sells entire stake in Megamont Limited
- Shareholding in Megamont Limited stands at nil
- Applies for reclassification from 'Promoter' to 'Public' category
- No longer associated with Megamont Limited's business or management
- Ceases to be a related party of Megamont Limited