Yanmar Coromandel Agrisolutions seeks reclassification from CUMI promoter group

Carborundum Universal Limited (CUMI) announced on September 17, 2025, that it received a reclassification request from Yanmar Coromandel Agrisolutions Private Limited (YCAS). YCAS, currently part of CUMI's promoter group, seeks to be reclassified as "public" following a change in its shareholding structure.

This request stems from Coromandel International Limited (CIL), one of CUMI's promoters, reducing its stake in YCAS from 40% to 10.60%. This reduction occurred due to a fund infusion of INR 149.72 Crores by Yanmar Asia (Singapore) Corporation Pte Ltd on September 27, 2024. This involved the allotment of 11,09,00,741 equity shares of face value INR 10 each to Yanmar Singapore. Consequently, YCAS no longer meets the definition of a promoter group under SEBI regulations due to CIL holding less than 20% of its equity share capital.

As of the request date, YCAS holds nil shares in Carborundum Universal Limited. The request will be presented to CUMI's board of directors for approval, after which necessary approvals will be sought from the National Stock Exchange of India Limited and BSE Limited.