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Ravindra Sannareddy's share holdings in Megasoft reclassified under public category

Ravindra Sannareddy’s share holdings in Megasoft reclassified under public category
February 22, 2021
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Based on submissions made by the Megasoft company, both NSE and BSE have accorded approval dated February 18, 2021, for reclassification of holdings of Ravindra Sannareddy and his family from ‘Promoter & Promoter Group Category’ to Public Category in the Company.
Considering the request of Ravindra Sannareddy, who promoted Megasoft in June 1999 and has been instrumental in the growth of the company, to opt out of Promoter category, the Board , through a letter dated October 21, 2020 informed the bourses for reclassification of holdings of Ravindra Sannareddy and his family from ‘Promoter & Promoter Group Category’ to Public Category in the Company, under the provisions of Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ....

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Sannareddy's share holdings in Megasoft reclassified under public category

Megasoft company have received approval for reclassification of holdings of Ravindra Sannareddy and his family from Promoter & Promoter Group Category’ to Public Category in the company.
Sannareddy promoted Megasoft in 1999 and has been instrumental in the growth of the company, and to opt out of promoter category.
The Board of Directors of Megasoft, through a letter dated October 21, 2020, informed the NSE and BSE for reclassification of holdings of Sannareddy and his family from Promoter & Promoter Group Category’ to Public Category in the company, under the provisions of Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Sannareddy said that he has been keeping out of the company’s business activities for a long time, after the merger of Xius with Megasoft. ....

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