NACL Industries: Algavista Greentech Seeks Re-classification from Promoter Group
NACL Industries Limited has received a request from Algavista Greentech Private Limited (AGPL) seeking re-classification from the 'promoter and promoter group' category to the 'public' category, in ac...
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Why is NACL Industries Limited in the news today?
NACL Industries Limited (NACLIND) is in the news due to the announcement is a procedural update regarding a shareholder's request for re-classification. it does not immediately impact the company's financials or operations, hence the sentiment is neutral.
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NACL Industries: Algavista Greentech Seeks Re-classification from Promoter Group
December 18, 2025, 02:35 PM
NACL Industries Limited has received a request from Algavista Greentech Private Limited (AGPL) seeking re-classification from the 'promoter and promoter group' category to the 'public' category, in accordance with Regulation 31A of the SEBI Listing Regulations. This request stems from a change in the shareholding of E.I.D.-Parry (India) Limited (EID), a promoter group company, in AGPL. EID's stake in AGPL has reduced from 50% to nil following the sale of its shares to its Joint Venture partner, Synthite Industries Private Limited.
Consequently, AGPL no longer falls under the definition of a promoter group as specified in SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. As of the date of the request letter, December 18, 2025, AGPL holds no shares in NACL Industries Limited and has requested its removal from the Company’s promoter group list.
The company will place this request before its Board of Directors as per Regulation 31A(3) of the SEBI Listing Regulations. Following Board approval, an application will be submitted to the National Stock Exchange of India Limited and BSE Limited seeking their no-objection for the re-classification.
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