Prakash Pipes Limited — Important, 05-09-2025: Disclosure of material issue

Prakash Pipes has received approval from NSE & BSE for the reclassification of Aircon Systems (India) Private Limited from a 'Promoter Group' entity to a 'Public Shareholder'. This formalizes a shift in the company's promoter group definition, though Aircon Systems held no shares before or after this change.

**The Issue:**

Alongside the approval, Prakash Pipes received a warning letter from BSE. The company failed to comply with regulatory procedures for the reclassification application. Specifically, PPL submitted the application physically instead of through the mandated online Listing Centre (a requirement since January 2019), and also delayed disclosing the application submission to the stock exchanges within the stipulated 24-hour timeframe.

**Possible Impact:**

BSE views these compliance lapses seriously, cautioning PPL to exercise due care in the future. The exchange has warned that any further non-compliance will be met with "appropriate action."

**Company's Response/Mitigation:**

Prakash Pipes has acknowledged the warning letter and committed to ensuring strict compliance with all SEBI regulations and applicable laws moving forward. The company is also required to place this warning letter before its Board of Directors and implement corrective measures to prevent such lapses in the future.