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Sundram Fasteners received NSE and BSE approval to reclassify three Promoter Group entities as Public. The move under Reg 31A reduces promoter holding to Nil.
Sundram Fasteners Limited has applied to BSE and NSE for the re-classification of Lakshminarayana Ancillaries, Upasana Properties, and Upasana Private Limited from 'Promoter Group' to 'Public' category. This formal application follows previous intimations in April 2026 regarding the change in shareholder status.
Sundram Fasteners' Board approved the reclassification of several promoter group entities, including UFL Properties and TVS Sundram Fasteners, into the public category. The company will now apply to NSE and BSE for a no-objection certificate. This move, following SEBI Regulation 31A compliance, marks a change in the company's regulatory shareholding structure.
Sundram Fasteners received requests to reclassify Lakshminarayana Ancillaries, Upasana Properties, and Upasana Private Limited from 'Promoter Group' to 'Public' category. These entities were dissolved following mergers with UFL Properties and TVS Sundram Fasteners. The requests will be placed before the Board of Directors for approval in compliance with SEBI Regulations.