Algavista Greentech Seeks Re-classification from Promoter Group
Coromandel International Limited has received a request from Algavista Greentech Private Limited (AGPL) dated December 18, 2025, seeking re-classification from the 'promoter and promoter group' catego...
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Why is Coromandel International Limited in the news today?
Coromandel International Limited (COROMANDEL) is in the news due to the announcement is a procedural update regarding a change in promoter status due to shareholding changes. it does not immediately impact the company's financial performance or operational outlook.
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Algavista Greentech Seeks Re-classification from Promoter Group
December 18, 2025, 12:34 PM
Coromandel International Limited has received a request from Algavista Greentech Private Limited (AGPL) dated December 18, 2025, seeking re-classification from the 'promoter and promoter group' category. This request follows a change in AGPL's shareholding, where E.I.D.-Parry (India) Limited (EID) sold its entire stake in AGPL to its Joint Venture partner, M/s. Synthite Industries Private Limited.
Consequently, AGPL no longer falls under the definition of a Promoter group as specified by SEBI regulations. As of the request date, AGPL holds no shares in Coromandel International Limited.
The company will place this request before its Board of Directors for approval, as required by SEBI Listing Regulations. Post board approval, Coromandel International will submit an application to the National Stock Exchange of India Limited and BSE Limited to seek their no-objection.
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