CG Power and Industrial Solutions Limited announced that both the National Stock Exchange (NSE) and BSE Limited have granted approval for the reclassification of an outgoing promoter group. Effective March 18, 2026, M/s. Algavista Greentech Private Limited has been moved from the “Promoter and Promoter Group Category” to the “Public Category.” This action was finalized following earlier applications submitted in January 2026 and aligns with regulatory requirements for such structural changes.
Official Confirmation of Promoter Status Change
CG Power and Industrial Solutions Limited formally informed the stock exchanges on March 18, 2026, regarding the successful reclassification of a key promoter entity. This notification confirms that the company has received the necessary no-objection letters from both major Indian stock exchanges.
Key Entity Reclassified
The specific entity affected by this regulatory move is M/s. Algavista Greentech Private Limited. Following the approvals, this entity’s status has been officially shifted:
- Old Category: Promoter and Promoter Group Category
- New Category: Public Category
The applications leading to this confirmation were initially submitted by the company on January 30, 2026, with follow-up communications occurring throughout January and February 2026.
Exchange Approvals
The approvals were officially communicated by the exchanges on March 18, 2026:
- National Stock Exchange (NSE): Granted approval via letter reference NSE/LIST/COMP/CGPOWER/557/2025-2026.
- BSE Limited (BSE): Granted approval via letter reference LIST/COMP/KR/736/2025-26.
The company secretary confirmed that the necessary compliance steps related to this structural change, including subsequent material event disclosures, will be strictly adhered to.
Source: BSE
