The Ugar Sugar Works Limited — Important, 03-01-2025: Updates

The Ugar Sugar Works Limited has communicated a pivotal board resolution regarding the reclassification of certain promoters as public shareholders. The board reviewed requests from Mr. Babasaheb N Kalyani and Mrs. Sunita B Kalyani, who hold a combined total of 31,98,680 equity shares, representing approximately 2.76% of the company's paid-up equity capital. Both individuals confirmed they are not involved in the management or governance of the company and satisfy the necessary criteria for reclassification under applicable regulations. The resolution passed by the board is contingent on shareholder and stock exchange approvals. This move may enhance the liquidity of shares and improve market perceptions around the ownership structure, presenting a positive outlook for both the company and its investors.