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Bal Pharma Limited's Board of Directors has approved the reclassification of certain promoters – Ms. Anita Chandraprakash Siroya, Mr. Jivi Dheerajmal Siroya, and Mr. Shrenik Dheerajmal Siroya – from the “promoter” category to “public” shareholders. This decision follows a careful review that confirmed these individuals do not have an active role in the company's operations, do not represent the Board, and collectively hold less than 10% of the total issued shares. The company will seek shareholder approval and the necessary consents from the BSE and NSE for this reclassification under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. This strategic move could enhance public shareholding and alter the company's governance structure, warranting close attention for potential implications on its market perception and investor sentiment.