Olympic Management Seeks Promoter Reclassification for Excel Paints

Olympic Management & Financial Services Ltd has filed a request for the reclassification of Excel Paints Private Limited from its promoter and promoter group. This action is being taken under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company has submitted the requisite documents, including board resolutions passed on May 28, 2026, and an undertaking from Excel Paints. Notably, Excel Paints Private Limited does not hold any shares in the company, and SEBI's amendment from May 5, 2021, exempts shareholders holding less than one percent from seeking shareholder approval for reclassification. The company is also listed on the Calcutta Stock Exchange.