Cholamandalam Investment and Finance Company has received Board approval for the reclassification requests of Yanmar Coromandel Agrisolutions Private Limited (YCAS) and Coromandel Engineering Company Limited (CECL) from ‘Promoter Group’ to ‘Public’ category. The decision follows a Board of Directors meeting held on November 6, 2025, and is subject to compliance with specified regulations and stock exchange approvals.
Reclassification of Promoter Group
The Board of Directors of Cholamandalam Investment and Finance Company has approved the reclassification requests from Yanmar Coromandel Agrisolutions Private Limited (YCAS) and Coromandel Engineering Company Limited (CECL), moving them from the ‘Promoter Group’ category to the ‘Public’ category.
Details of the Reclassification
The requests, initially received on September 17, 2025 and September 25, 2025, were reviewed by the Board. After confirming their eligibility according to specified regulations, the Board approved the reclassification at a meeting held on November 6, 2025.
As of the announcement, both YCAS and CECL hold Nil paid-up equity shares in the company, representing Nil percentage of shareholding.
Conditions and Compliance
The approval is contingent upon YCAS and CECL complying with all requirements specified in the relevant Listing Regulations. The reclassification is also subject to receiving no-objection certificates from the Stock Exchanges.
Source: BSE
