Rikhav Securities: Promoter Group Seeks Reclassification to Public
Rikhav Securities Ltd has received requests from members of its Promoter Group seeking reclassification to the 'Public' category under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The individuals and entities, including Makshi Infotech Private Limited and Parth Investment Consultants Private Limited, have confirmed they no longer hold more than ten percent of total voting rights, do not exercise control, and have no special rights or board representation. The requests will be placed before the Board of Directors for consideration, after which an application for no-objection will be submitted to BSE Limited. This move is a procedural step for entities that no longer actively manage or control the company's affairs.
Key Highlights
- Promoter Group members requested reclassification to 'Public' category.
- Reclassification is under SEBI LODR Regulations 31A.
- Applicants confirm no control or significant voting rights.
- Board of Directors will consider the request.
- BSE no-objection will be sought post-Board approval.
Price Impact
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