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of <h1>Regulation 31A: Conditions for Reclassifying Promoters to Public Status in SEBI Listing Requirements 2015</h1> Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the conditions for reclassifying a person from promoter to public status. Promoters seeking reclassification must submit a request to the listed entity, which the board of directors analyzes. The request, along with board views, is submitted to stock exchanges for no-objection, followed by shareholder approval. Promoters must not hold more than 10% voting rights or control the entity. Certain conditions apply post-reclassification, and public shareholders seeking promoter status must make an open offer. Material events related to reclassification must be disclosed promptly.
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