The Board of Directors of E.I.D. – Parry (India) Limited has approved the request from Algavista Greentech Private Limited (AGPL) to be de-classified from the ‘Promoter and Promoter Group’ category. This decision, made on February 12, 2026, follows confirmation that AGPL meets all requisite eligibility criteria. The company will now seek the No Objection Certificate from the stock exchanges (BSE and NSE) to finalize the change, subject to regulatory receipt.
Approval for Promoter De-classification
Following up on an earlier communication dated December 18, 2025, the Board of Directors of E.I.D. – Parry (India) Limited met today, February 12, 2026, to consider a significant corporate governance matter. The Board reviewed and approved the request submitted by Algavista Greentech Private Limited (AGPL), a current member of the Promoter Group, seeking de-classification from this category.
Compliance and Next Steps
The Board confirmed that AGPL satisfies all the necessary eligibility conditions stipulated under Regulation 31A(3)(b) of the applicable regulations. In accordance with the same regulations, the Board has sanctioned the filing of an application with both the BSE Limited and the National Stock Exchange of India Limited to obtain the mandatory No Objection Certificate required for this de-classification.
Furthermore, the Board noted that M/s. AGPL has formally provided an undertaking to consistently comply with all stipulated requirements under Regulation 31A (4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, at all times moving forward. The entire de-classification process remains contingent upon receiving the official ‘no-objection’ confirmation from both stock exchanges.
Conclusion and Acknowledgment
The company requests that the stock exchanges acknowledge receipt of this official communication and record the approved resolution regarding the proposed change in shareholding classification.
Source: BSE
