Swarnsarita Jewels India Limited has filed an application with BSE Limited to reclassify two promoters, Mrs. Seema Rajendra Chordia and Mr. Rajendra M. Chordia, from the ‘Promoter & Promoter Group’ category to the ‘Public’ category. This move is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows a board resolution approving the request. The individuals confirmed they no longer hold significant voting rights or control over the company.
Promoter Reclassification Initiative
Swarnsarita Jewels India Limited has formally initiated the process to reclassify two of its key individuals, Mrs. Seema Rajendra Chordia and Mr. Rajendra M. Chordia, from their current ‘Promoter & Promoter Group’ status to the ‘Public’ shareholder category. This significant step is being undertaken in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Board Approval and Compliance
The Board of Directors of Swarnsarita Jewels India Limited convened a meeting on August 03, 2026, where they reviewed and approved the reclassification requests. The company has submitted the requisite application to the BSE Limited, enclosing all necessary documentation. Both applicants, Mrs. Seema Rajendra Chordia and Mr. Rajendra M. Chordia, have provided undertakings confirming that they no longer hold more than 1% of the total voting rights in the company and do not exercise control over its affairs. Their combined shareholding was stated to be 0% as of the date of the application.
Shareholding Structure Shift
Prior to this reclassification, the promoter shareholding details indicated various entities and individuals holding significant stakes. Notably, SWARNSARITA JEWELLERS PVT LTD held 93,57,187 shares, representing 44.82% of the total shareholding. Other promoters, including Mahendra Madanlal Chordia (3.84%), Sunny Mahendra Chordia (2.03%), and Asha Mahendra Chordia (1.11%), also had substantial holdings. The application signifies a strategic shift in the company’s promoter structure, aligning with regulatory requirements for changes in promoter status.
Regulatory Filings and Documentation
The company has submitted a comprehensive set of documents to the BSE, including the application form, board resolution approving the reclassification, and the pre and post reclassification shareholding patterns. An amended checklist confirms the submission of all required documents as per SEBI (LODR) Regulations, 2015. The chronology of events, starting from the receipt of the application by the exchange on August 08, 2026, has also been provided.
Company’s Confirmation
In an undertaking dated August 08, 2026, Swarnsarita Jewels India Limited confirmed that the outgoing promoters satisfy all specified conditions under Regulation 31A(3)(b) of SEBI (LODR) Regulations, 2015. They do not exercise control, hold special rights, or are represented on the Board or as Key Managerial Personnel (KMP). The company has also confirmed compliance with minimum public shareholding norms and has no outstanding dues to regulatory bodies. They have requested the Exchange to grant its No Objection Certificate (NOC) or Approval for the reclassification.
Source: BSE
