Carborundum Universal has received a request from Yanmar Coromandel Agrisolutions Private Limited (YCAS) to be re-classified from the ‘Promoter/Promoter Group’ category to the public category. This follows a change in shareholding where Coromandel International Limited (CIL)’s stake in YCAS decreased from 40% to 10.60% due to a fund infusion. YCAS currently holds nil shares in Carborundum Universal.
Re-classification Request Overview
Carborundum Universal Limited (CUMI) has received a formal request, dated September 16, 2025, from Yanmar Coromandel Agrisolutions Private Limited (YCAS), seeking re-classification from its current status as part of the ‘Promoter/Promoter Group’ to the ‘Public’ category.
Details Behind the Request
The re-classification request is triggered by a shift in the shareholding structure of Coromandel International Limited (CIL) within YCAS. CIL’s stake in YCAS has been adjusted from 40% to 10.60%. This adjustment occurred following a fund infusion by Yanmar Asia (Singapore) Corporation Pte Ltd (Yanmar Singapore) on September 27, 2024.
As a result of this transaction and subsequent share allotment, YCAS no longer meets the definition of a Promoter group, as CIL now holds less than 20% of YCAS’s equity share capital.
Current Shareholding Status
As of the date of the request, YCAS holds nil shares in Carborundum Universal Limited.
Next Steps
The re-classification request from YCAS will be presented to the Board of Directors for review and approval. Following board approval, CUMI will seek the necessary approvals from the National Stock Exchange of India Limited and BSE Limited.
Source: BSE
