CG Power: Algavista Greentech Seeks Reclassification from Promoter Group
CG Power and Industrial Solutions Limited has received a request from Algavista Greentech Private Limited (AGPL), a member of the promoter and promoter group, to be reclassified as a public shareholde...
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Why is CG Power and Industrial Solutions Limited in the news today?
CG Power and Industrial Solutions Limited (CGPOWER) is in the news due to the announcement is a procedural request for reclassification and does not immediately impact the company's financials or operations.
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CG Power: Algavista Greentech Seeks Reclassification from Promoter Group
December 18, 2025, 09:46 AM
CG Power and Industrial Solutions Limited has received a request from Algavista Greentech Private Limited (AGPL), a member of the promoter and promoter group, to be reclassified as a public shareholder. The request, received on December 18, 2025, is based on AGPL no longer falling under the definition of a promoter group.
This change in status is due to E.I.D.-Parry (India) Limited selling its entire 50% stake in AGPL to its joint venture partner, Synthite Industries Private Limited. As of the date of the request letter, AGPL holds zero shares in CG Power and Industrial Solutions Limited.
The company will place AGPL's request before its Board of Directors for approval. Following board approval, CG Power will submit an application to the National Stock Exchange of India Limited and BSE Limited seeking their no-objection for the reclassification.
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