Algavista seeks reclassification from Carborundum Universal promoter group

Carborundum Universal Limited (CUMI) received a request on December 18, 2025, from Algavista Greentech Private Limited (AGPL) to be reclassified from the 'Promoter/Promoter Group' to 'Public' shareholder category. This request, made under Regulation 31A (8) of the SEBI Listing Regulations, stems from a change in AGPL's shareholding structure.

E.I.D. Parry (India) Limited (EID), previously holding 50% in AGPL, has divested its entire stake to Synthite Industries Private Limited, eliminating AGPL's classification within the promoter group as per SEBI regulations. As of the request date, AGPL holds nil equity shares in Carborundum Universal Limited.

The reclassification request will be presented to CUMI's board of directors, and upon approval, necessary steps will be taken with the National Stock Exchange of India Limited and BSE Limited to reflect AGPL's change to a public shareholder. AGPL has confirmed it does not hold more than 10% of total voting rights, exercise control, or have special rights in CUMI.