Yanmar Coromandel seeks reclassification from Cholamandalam promoter group

Cholamandalam Investment and Finance Company Limited (Cholamandalam) announced on September 17, 2025, the receipt of a reclassification request from Yanmar Coromandel Agrisolutions Private Limited (YCAS). YCAS, currently part of Cholamandalam's promoter group, seeks reclassification to the 'public' category under SEBI listing regulations.

This request follows a change in the shareholding of Coromandel International Limited (CIL) in YCAS. CIL's stake in YCAS decreased from 40% to 10.60% due to a fund infusion of INR 149.72 crores by Yanmar Asia (Singapore) Corporation Pte Ltd on September 27, 2024. As a result, YCAS no longer meets the definition of a promoter group under SEBI regulations since CIL's holding is less than 20% of YCAS's equity share capital.

As of the date of the request letter, YCAS does not hold any shares in Cholamandalam. The reclassification request will be presented to Cholamandalam's board of directors, and upon approval, necessary steps will be taken with the National Stock Exchange of India Limited and BSE Limited.