360 ONE seeks shareholder approval for promoter reclassification

360 ONE WAM Limited (BSE: 360ONE) has announced a postal ballot to seek shareholder approval for reclassifying several promoter group entities as public shareholders. The move, subject to regulatory approvals, would reduce the promoter and promoter group shareholding from 14.20% to 7.28%. The reclassification request follows the receipt of 'no objection' from both the BSE and NSE. The Postal Ballot Notice dated April 3, 2025, has been dispatched electronically to eligible members as of the cut-off date, March 28, 2025. Shareholders can cast their votes via remote e-voting between April 5, 2025, and May 4, 2025, with results announced on or before May 5, 2025. The entities seeking reclassification, including Nirmal Bhanwarlal Jain and Venkataraman Rajamani, have confirmed they meet the conditions specified under Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.