Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has received a request from Algavista Greentech Private Limited (AGPL), a part of its Promoter Group, to be reclassified to the 'Public' category under Regulation 31A of the SEBI Listing Regulations. AGPL was previously a subsidiary of E.I.D.-Parry (India) Limited (EID), one of CHOLAFIN's Promoters. The request follows EID's divestment of its entire stake in AGPL to its Joint Venture Partner, Synthite Industries Private Limited. Consequently, AGPL no longer falls under the definition of a Promoter group. As of the date of the request, AGPL holds no shares in Cholamandalam Investment and Finance Company Limited. The request letter will be presented to the Board of Directors at their next meeting for approval. Following board approval, requisite approvals will be sought from the National Stock Exchange of India Limited and BSE Limited.
