Carborundum Universal has received a request from Algavista Greentech Private Limited (AGPL) for reclassification from ‘Promoter Group’ to ‘Public’ shareholder status. This follows E.I.D. Parry’s divestment of its stake in AGPL. The request is pending board approval and subsequent approvals from the stock exchanges. AGPL currently holds Nil shares in the company.
Reclassification Request
Carborundum Universal Limited has received a formal request on December 18, 2025, from Algavista Greentech Private Limited (AGPL), seeking reclassification from the ‘Promoter Group’ category to a ‘Public’ shareholder. AGPL was previously classified as part of the Promoter Group.
Details of the Request
The reclassification request is a result of a change in AGPL’s shareholding. E.I.D. Parry (India) Limited (EID), previously holding 50% of AGPL, has completely divested its stake. Consequently, AGPL currently holds Nil shares in Carborundum Universal.
Next Steps
The reclassification request will be presented to the Board of Directors for approval. Upon Board approval, the company will seek necessary approvals from the National Stock Exchange of India Limited and BSE Limited.
Algavista Greentech’s Confirmation
Algavista Greentech Private Limited confirmed that they do not hold more than 10% of the total voting rights and are not acting in concert with the Promoter/Promoter Group.
Source: BSE