Coromandel engineering seeks reclassification from Cholamandalam promoter group

Cholamandalam Investment and Finance Company Limited (Chola) announced on September 25, 2025, the receipt of a reclassification request from Coromandel Engineering Company Limited (CECL), a part of its promoter group. CECL is seeking to transition from the 'promoter and promoter group' category to the 'public' category under Regulation 31A of SEBI listing regulations.

This request follows a change in control of CECL on December 29, 2023, where the erstwhile promoters/promoter group of CECL divested their entire shareholding. Consequently, CECL ceased to be part of Chola's promoter/promoter group and, as of the request letter date, holds nil shares in the company.

Chola will present CECL's request to its board of directors for approval at the next meeting, after which necessary approvals from the National Stock Exchange of India Limited and BSE Limited will be sought. CECL has confirmed that it does not hold more than 10% of total voting rights, exercise control, or possess special rights in Chola.